Stocks open lower on profit-taking

Business Materials 8 April 2008 07:51 (UTC +04:00)

(dpa) - Stocks opened lower Tuesday as Tokyo investors sold shares to lock in profits from the key Nikkei index's five-week high the previous day.

The Nikkei 225 Stock Average fell 125.22 points, or 0.93 per cent, to 13,325.01.

The broader Topix index of all first-section issues was also down 11.38 points, or 0.87 per cent, at 1,294.25.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 102.50-55 yen, down from Monday's 5 pm quote of 102.71-73 yen.

The euro was quoted at 1.5707-10 dollars, up from Monday's 5 pm quote of 1.5665-68 dollars, and at 161.03-08 yen, up from 160.91-95 yen.