Business News
Yen's continued strength sends Tokyo markets lower
Jul 10, 2009, 2:36 GMT
Tokyo - The Tokyo market ended morning trading lower Friday, heading toward its eighth-straight day of losses, as the yen's strength sent exporters' stocks down.
The Nikkei 225 Stock Average edged down 3.6 points, or 0.04 per cent, to 9,287.46.
The broader-based Topix index was also down 1.8 points, or 0.21 per cent, at 872.11.
On currency markets at 9 am (0000 GMT), the dollar traded at 93.15-20 yen, down from Thursday's 5 pm quote of 93.34-37 yen. A stronger yen reduces Japanese firms' overseas earnings and makes their products more expensive abroad.
The euro traded at 1.4010-15 dollars, up from late Thursday's quote of 1.3960-63 dollars, and at 130.55-60 yen, up from 130.33-37 yen.
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