Tokyo stocks open lower on profit-taking

Business Materials 5 February 2008 07:47 (UTC +04:00)

( dpa ) - Tokyo stocks opened lower Tuesday as investors sold shares to lock in profits from the previous day's gains.

The Nikkei 225 Stock Average fell 171.69 points, or 1.24 per cent, in morning trading to 13,688.01.

The broader Topix index of all first-section issues was also down 15.09 points, or 1.11 per cent, at 1,349.63.

On Monday, the Nikkei rose 2.69 per cent and the Topix 2.08 per cent after Microsoft Corp's offer to buy Yahoo Inc and a rescue plan for a US bond insurer.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 106.68-73 yen, almost unchanged from Monday's 5 pm quote of 106.71-74 yen.

The euro was quoted at 1.4824-29 dollars, down from Monday's 5 pm quote of 1.4840-43 dollars, and at 158.19-24 yen, down from 158.39-43 yen.