Business News
Japanese stocks drop on profit-taking
Mar 18, 2010, 3:34 GMT
Tokyo - Japanese stocks edged down in Thursday morning trading as investors sold shares to lock in profits after the previous day's eight-week closing high.
The benchmark Nikkei 225 Stock Average lost 23.04 points, or 0.21 per cent, to trade at 10,823.94 while the broader Topix index was down 0.72 points, or 0.08 per cent, at 946.71.
On Wednesday, the Nikkei rose sharply after the Bank of Japan decided to ease its monetary policy to counter deflation by doubling a lending programme to banks.
On currency markets at 9 am (0000 GMT), the dollar traded at 90.39-43 yen, down from Wednesday's 5 pm quote of 90.45-47 yen.
The euro traded at 1.3737-3738 dollars, down from 1.3795-3797 dollars Wednesday, and at 124.17-23 yen, down from 124.78-82 yen.
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