Japanese stocks mixed on concerns over US government bailout

Business Materials 26 September 2008 07:50 (UTC +04:00)

Tokyo stocks see-sawed between positive and negative territory in morning trading Friday as investors were concerned about congressional passage of the US government's bailout plan for the financial industry, reported dpa.

The benchmark Nikkei 225 Stock Average lost 23.19 points, or 0.19 per cent, to trade at 11,983.34.

The broader Topix index of all first-section issues was almost unchanged at 1,154.81, up 0.86 points, or 0.07 per cent.

The Bank of Japan injected 800 billion yen (7.54 billion dollars) into the money market Friday in an emergency operation to prevent disruptions in interbank borrowing.

Friday's move was the eighth-consecutive business day that the central bank has injected money into money markets to free up credit.

The bank has poured in a total of 15.8 trillion yen since last week when the US investment bank Lehman Brothers Holdings Inc filed for bankruptcy.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 106.05-10 yen, up from Thursday's 5 pm quote of 105.76-78 yen.

The euro was quoted at 1.4659-64 dollars, down from Thursday's 5 pm quote of 1.4706-08 dollars, and at 155.53-58 yen, almost unchanged from 155.54-58 yen.