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Tokyo stocks fall more than 2 per cent on profit-taking

Business Materials 28 January 2008 07:00 (UTC +04:00)

( dpa ) - Tokyo stocks fell more than 2 per cent Monday as investors dumped shares to lock in profits from Friday's gains amid lingering worries about the US economy and a stronger yen.

The Nikkei 225 Stock Average lost 354.23 points, or 2.6 per cent, to 13,274.93. The key index soared more than 4 per cent at the end of Friday.

The broader Topix index of all first-section issues was also down 36.41 points, or 2.71 per cent, at 1,308.36.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 106.70-75 yen, down from Friday's 5 pm quote of 107.63-65 yen.

The euro was quoted at 1.4688-93 dollars, down from Friday's 5 pm quote of 1.4757-59 dollars, and at 156.75-80 yen, down from 158.84-88 yen.

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