Tokyo stocks end higher Friday, US$ up against yen

  • Business
  • Friday, 30 Jul 2004

TOKYO (AP) - Tokyo stocks bounced back Friday as investors welcomed Wall Street's overnight strength.  

The U.S. dollar was higher against the Japanese yen. 

The Nikkei Stock Average of 225 issues closed up 208.94 points, or 1.88 percent, at 11,325.78 points.  

On Thursday, the index lost 87.53 points, or 0.78 percent. 

The dollar was quoted at 111.95 yen at 3 p.m. (0600 GMT) Friday, up 0.27 yen from late Thursday in Tokyo but below the 112.17 yen it bought in New York later that day. 

Tokyo stocks rebounded Friday as investors welcomed U.S. stock gains overnight and bought technology and auto issues. 

Advantest and Tokyo Electron, as well as NEC, Sony and Toshiba were higher. Auto issues including Honda Motor, Nissan and Toyota also rose Friday. 

Wall Street advanced Thursday as investors focused on strong earnings. 

The Dow Jones industrial average closed up 12.17, or 0.1 percent, at 10,129.24. 

The Nasdaq composite index added 22.80, or 1.2 percent, to 1,881.06. 

Friday in Tokyo, the broader index of all issues on the Tokyo Stock Exchange's first section gained 17.32 points, or 1.54 percent, to 1,139.30 points. 

The TOPIX fell 7.66 points, or 0.68 percent, the day before. 

In other currencies, the euro fell to US$1.2040 Friday afternoon in Tokyo from US$1.2052 late Thursday. 

Against the yen, the euro was up at 134.77 yen from 134.67 yen. 

In the bond market, the yield on Japan's benchmark 10-year government bond rose to 1.8400 percent from 1.8200 percent late Thursday. 

Its price slipped 0.17 to 99.66 points. - AP

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