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Tokyo stocks down on strong yen (Roundup)
Jul 9, 2009, 6:53 GMT
Tokyo - Tokyo stocks expanded their losses into a seventh day Thursday as investors sold export-oriented issues on a stronger yen.
The Nikkei 225 Stock Average lost 129.69 points, or 1.38 per cent, to close at 9,291.06.
The broader-based Topix index was also down 14.63 points, or 1.65 per cent, at 873.91.
On currency markets at midday (0300 GMT), the dollar traded at 93.19-24 yen, down from Wednesday's 5 pm quote of 94.25-28 yen. A stronger yen reduces Japanese firms' overseas earnings and makes their products more expensive abroad.
The euro traded at 1.3897-3902 dollars, up from late Wednesday's quote of 1.3887-3890 dollars, and at 129.61-66 yen, down from 130.91-95 yen.
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