主题：【文摘】】Japan: "Lost Decade" and "The Second Defeat" -- Chieftain

Associated Press

Tokyo Stocks Slump, Dollar Is Lower

Monday April 11, 7:15 am ET

Tokyo Stocks Slump Over Anti-Japan Protests in China; U.S. Dollar Down Against Yen, Euro

TOKYO (AP) -- Tokyo stocks slumped Monday as issues in marine transport and machinery sectors fell amid investor concerns over anti-Japan protests in China. The U.S. dollar was lower against the yen and the euro.

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The Nikkei Stock Average of 225 selected issues shed 129.11 points, or 1.09 percent, to close at 11,745.64. The index rose 63.76 points, or 0.54 percent, Friday.

The dollar was trading at 108.10 yen at late afternoon Monday, down 0.55 yen from late Friday and below the 108.30 yen it bought in New York later that day. The dollar traded between 108.05 yen and 108.52 yen in Tokyo.

Anti-Japanese protests in Beijing and Shenzhen over the weekend prompted selling in China-related stocks, traders said.

Thousands of Chinese took to Tokyo streets on Saturday to protest a controversial new Japanese textbook that critics say whitewashes Japan's colonial history.

"While New York stocks were already weaker, news of (the anti-Japanese riots in China) emerged. That may have made stock players feel somewhat uneasy," said Shigeharu Shiraishi, managing director at Societe Generale Asset Management.

Mitsui O.S.K. Lines Ltd. fell 2.8 percent and Kawasaki Kisen Kaisha Ltd. dropped 3.2 percent. Machinery makers Komatsu Ltd. shed 3 percent and Hitachi Construction Machinery Co. declined 2.8 percent. Among other losers were Japan Airlines Corp., All Nippon Airways Co. and travel agency Kinki Nippon Tourist Co. Retailers Aeon Co. and Ito-Yokado Co. were also lower.

Shiraishi said, however, that the Tokyo stock market is likely to stay solid on a brighter outlook for Japan's economy and corporate earnings ahead. While rising political tension between Japan and its neighboring countries is a long-term risk, the near-term affect on stocks will likely be limited, he said.

The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first section, lost 11.18 points, or 0.93 percent, to finish Monday's trading at 1,190.12 points. The TOPIX rose 4.47 points, or 0.37 percent, the day before.

First-section volume fell to 1.170 billion shares, from Friday's 1.433 billion shares. Decliners beat advancers 1,280 to 291, while 79 issues were unchanged.

In New York Friday, the Dow Jones industrial average fell 84.98, or 0.81 percent, to 10,461.34. The Nasdaq composite index lost 19.44, or 0.96 percent, to 1,999.35.

In currency trading, the dollar fell against the yen and the euro in Asia on Monday as investors held back from aggressive buying before the release of U.S. trade deficit data and the Federal Reserve's open market committee minutes on Tuesday.

The euro rose to $1.2950 late Monday afternoon in Tokyo from $1.2827 late Friday afternoon and to 139.98 yen from 139.40 yen.

The yield on Japan's benchmark 10-year government bond stood at 1.3600 percent, unchanged from Friday's close. Its price remained unchanged at 99.47 points.