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Nikkei opens slightly higher on halt in yen's surge

Business Materials 14 March 2008 06:50 (UTC +04:00)

Japan's key Nikkei index opened slightly higher in a mixed-day of trading Friday as the yen's surge was contained. ( dpa )

The Nikkei 225 Stock Average was up 64.19 points, or 0.52 per cent, at 12,497.63.

But the broader Topix index of all first-section issues dipped 4.73 points, or 0.39 per cent, to 1,211.14.

Tokyo stocks plunged more than 3 per cent at Thursday's closing as the US dollar sank to a 12-year low and investors dumped exporters' issues.

Japanese government officials said sudden fluctuations in foreign exchange markets was "undesirable" and they would closely monitor the market movements.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 100.69-72 yen, up from Thursday's quote of 100.17-20 yen.

The euro was quoted at 1.5620-25 dollars, up from Thursday's 5 pm quote of 1.5564-67 dollars, and at 157.25-30 yen, up from 155.94-98 yen.

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