Friday, March 22, 2013
Nikkei Opens Down On Overseas Losses, Rise Of Yen
TOKYO (NQN)--Tokyo stocks opened lower Friday, with the Nikkei Stock Average slipping 137 points to start the day at 12,498, before moving around 12,500.
Foreign markets closed lower overnight in line with the uncertain outlook for the euro zone's bailout plan for Cyprus. The rise of the yen also prompted investors to sell stocks in Tokyo, dragging down shares of blue-chip exporters and high-priced issues, in particular. Shares of major property developers and major banks also opened lower.