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		Home Page Mortgage News You Can Use Tokyo stocks end down; dollar up vs. yen 2/6/2004 TOKYO -- Tokyo stocks ended mixed Friday, but the benchmark index was dragged down by losses for TDK and Kyocera ahead of a gathering of officials from the Group of Seven richest nations later in the day. The U.S. dollar was up against the Japanese yen. The Nikkei Stock Average of 225 issues closed down 3.68 points, or 0.04 percent, at 10,460.92 points. On Thursday, the index gained 17.35 points, or 0.17 percent. However, the main index of all issues on the Tokyo Stock Exchange's First Section rose 3.35 points, or 0.33 percent, closing at 1,028.83 points. The TOPIX gained 2.87 points, or 0.28 percent, the day before. The dollar was trading at 106.04 yen at 5 p.m. Friday, up 0.58 yen from late Thursday in Tokyo and also above the 105.91 yen it bought in New York later that day. It traded between 105.57 yen and 106.25 yen in Tokyo on Friday. Few investors were willing to do much trading with a two-day G-7 meeting set to start later Friday in Boca Raton, Florida. Finance ministers and central bankers from the United States, Japan, Germany, France, Britain, Italy and Canada were expected to discuss currency market swings, including the yen's surge, which has hit Tokyo stocks. The yen's strength hurts Japanese exporters by making their products more expensive abroad and lowering the value of their revenues earned overseas. Recent signs of a recovery in Japan have been due largely to robust exports. Some investors pocketed profits from the market's recent gains, selling technology blue chips TDK, Kyocera, Fanuc and Sony. Those losses kept the Nikkei weaker. The broader TOPIX index ended higher thanks to rising shares of automakers Honda Motor and Toyota, electronics maker NEC and Japan's four major banks -- UFJ, Sumitomo Mitsui Financial, Mizuho and Mitsubishi Tokyo Financial. Overall, trading was sluggish, with only 848.52 million shares changing hands on the exchange's first, or main, section. On Thursday, volume was 975.70 million. Advancing issues outnumbered decliners 743 to 640 and 150 finished unchanged. Overnight in New York, stocks gained moderately as buyers enticed by Wall Street's depressed prices returned to the market. The Dow Jones industrial average rose 24.81, or 0.2 percent, to 10,495.55. The Nasdaq composite index gained 5.42, or 0.3 percent, to 2,019.56. In other currencies, the euro fell to $1.2545 from $1.2546 late Thursday. Against the yen, the European currency was quoted at 133.36 yen, up from 132.29 yen. The yield on Japan's benchmark 10-year government bond rose to 1.2700 percent from 1.2650 percent late Thursday. Its price fell 0.04 to 100.26 points.   Back to Original Article: Mortgage News You Can Use   Continue with: Treasuries Up, Job Famine Keep Rates Lean France's Mer says G7 must alter message on currency US again outshines euro zone in key OECD indicator Fannie, Freddie to Lose Free Advances From Fed Unemployment Rate Falls to 5.6 Percent Much of World Skeptical of Bush's Budget U.S. Adds 112,000 Jobs, Less Than Expected; Unemployment Is 5.6 Percent Mortgage rates increase again Retailers report robust January sales Interest Rise Good News for Landlords? Staring down debt Bush budget an eternal mortgage How to deduct a boat loan during the tax season Home refinancings fall to 18-month low New Fed Policy To Change Housing GSEs' Cash Use
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