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Dollar falls against yen in Japan

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November 7, 2000 

TOKYO (UNB/AP) - Japan's main stock index rose Monday following a three-day holiday weekend after bargain hunters were encouraged by gains in U.S. technology shares. The dollar fell against the yen.

The benchmark 225-issue Nikkei Stock Average rose 533.66 points, or 3.60 percent, to close at 15,371.44. On Thursday, the average closed down 34.61 points, or 0.23 percent.

The dollar bought 107.26 yen at 3 p.m. (0600 GMT), down 0.92 yen from its level of 108.18 late Thursday in Tokyo and below the 107.40 yen it fetched late Friday in New York trading.

Japanese financial markets were closed Friday for Culture Day, a national holiday.

On the stock market, the blue-chip Nikkei index got a lift from the latest evidence that U.S. technology stocks are picking themselves up from recent falls.

The tech-heavy Nasdaq composite rose 22.55 points to 3,451.58 on Friday, bringing to 5.3 percent its gains for the week, even as the Dow Jones industrial average slipped 62.56 points to 10,817.95.

In other Tokyo trading Monday, the broader Tokyo Stock Price Index of all issues listed on the first section gained 30.77 points, or 2.16 percent, to 1,455.28. The TOPIX ended up 6.06 points, or 0.43 percent, on Thursday.

In currency trading, the dollar slipped against the yen even as Vice Finance Minister Haruhiko Kuroda warned that Japan was prepared to intervene in markets if necessary to prevent the yen from rising too far.

The euro was quoted at 92.86 yen, up from 92.60 yen late Thursday in Tokyo.

The benchmark 10-year Japanese government bond fell to 1.8200 percent from Thursday's finish of 1.8250. Its price rose 0.05 point to 100.68.