Japanese shares were down Thursday morning after
overnight losses on Wall Street and on concerns about European debt, according to dpa.
The benchmark Nikkei 225 Stock Average lost 59.33 points, or 0.69
per cent, to trade at 8,528.51 at the end of the morning session at
11:30 am (0230 GMT).
The broader-based Topix index was down 3.47 points, or 0.48 per
cent, at 722.97.
Export-linked stocks fell as the yen rose against the dollar. A
stronger yen makes Japanese goods more expensive overseas and hurts
Shares in Toyota Motor Corp lost 1.77 per cent, Honda Motor Co
declined 1.57 per cent, Canon Inc fell 0.93 per cent and construction
machinery maker Komatsu Ltd was down 0.69 per cent.
The Dow Jones Industrial Average shed 0.62 per cent Wednesday amid
lingering concerns about the eurozone debt crisis.
After the close of markets in New York, Moody's rating agency
downgraded Spain's government bonds another three notches, citing its
plans to borrow up to 100 billion euros (125 billion dollars) from
the European Financial Stability Facility (EFSF) or its successor.
In Tokyo, on currency markets at 11:30 am, the dollar traded at
79.41-44 yen, down from Wednesday's 5 pm quote of 79.56-58 yen.
The euro was quoted at 1.2557-2560 dollars, up from 1.2527-2529
dollars late Wednesday, and at 99.73-78 yen, up from 99.67-71 yen.