Japanese stocks edge lower on European debt woes, stronger yen
Japanese shares inched down in Wednesday morning trading on a stronger yen and lingering concerns about European debt problems, dpa reported.
The benchmark Nikkei 225 Stock Average lost 5.24 points, or 0.05 per cent, to trade at 9,931.80 while the broader Topix index was down 0.74 points, or 0.09 per cent, at 860.2.
Tokyo stocks fluctuated amid growing concern that European sovereign debt problems could spread to other countries in the euro zone.
Export-oriented issues such as technology shares were down as the Japanese currency rose against the dollar and the euro.
A stronger yen makes Japanese exports less competitive and erodes overseas earnings when the revenues are repatriated.
On currency markets at 9 am (0000 GMT), the dollar traded at 83.67-69 yen, down from Tuesday's 5 pm quote of 84.02-04 yen.
The euro traded at 1.2993-2996 dollars, down from 1.3118-3120 dollars Tuesday, and at 108.75-80 yen, down from 110.22-26 yen.