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Markets

Tokyo shares down 0.19 percent by noon

Published Updated

tokyo_stockTOKYO: Tokyo shares lost 0.19 percent by the break Friday, after the euro sagged against the yen because of the lack of finality on Greece's debt, while profit-taking kicked in ahead of the weekend.

 

The Nikkei index at the Tokyo Stock Exchange lost 17.40 points to 8,984.84 in the morning session, after opening in positive territory. The Topix index of all first-section shares fell 0.45 percent, or 3.52 points, to 780.97.

Dealers had expected stocks to be aided by a relatively weaker yen, but the single currency came under pressure in morning forex trade.

"The yen has regained some ground against the euro from earlier in the morning," SMBC Nikko Securities general manager of equities Hiroichi Nishi told Dow Jones Newswires, adding investors are taking profits ahead of the weekend.

The euro stood at $1.3274 and 102.98 yen, down from $1.3286 and 103.20 yen.

The dollar bought 77.57 yen, also edging down from 77.68 yen.

Eurozone finance ministers on Thursday put off a decision on a new bailout to save Greece from bankruptcy, giving Athens less than a week to meet three conditions in return for the aid.

The deadline was set during talks between Greek Finance Minister Evangelos Venizelos and his 16 eurozone counterparts in Brussels.

On Thursday, the Dow Jones Industrial Average finished up 0.05 percent, or 6.51 points, at 12,890.46.

The broad-based S&P 500 crept up 0.15 percent, or 1.99 points, to 1,351.95, while the Nasdaq Composite gained 0.39 percent, or 11.37 points, to 2,927.23.

Many currency-sensitive exporters fell, with TDK off 1.97 percent at 3,725 yen, Honda down 1.66 percent at 2,775 yen and Canon 1.01 percent lower at 3,425 yen.

 

Copyright AFP (Agence France-Presse), 2012

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