Tokyo stocks open lower on uncertain fate of US bailout plan

Business Materials 25 September 2008 08:15 (UTC +04:00)

( dpa ) - Tokyo stocks opened lower Thursday as investors sold stocks to lock in profits amid uncertainties over the fate of the US government's financial bailout plan.

The benchmark Nikkei 225 Stock Average declined 103.72 points in morning trading, or 0.86 per cent, to 12,011.31.

The broader Topix index of all first-section issues was also down 10.52 points, or 0.9 per cent, at 1,157.45.

Tokyo players sold a wide range of issues amid concern about when the US Congress would pass a government plan to bail out distressed financial institutions.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 106.07-12 yen, down from Wednesday's 5 pm quote of 106.16-17 yen.

The euro was quoted at 1.4651-56 dollars, almost unchanged from Wednesday's 5 pm quote of 1.4653-55 dollars, and at 155.42-47 yen, down from 155.56-60 yen.