Tokyo stocks finished the morning higher Monday, in line with gains on foreign markets Friday, as the Nikkei Stock Average trimmed its early gains due to unexpectedly weak industrial output data for June.
The benchmark Nikkei index reached 8,619.78, up 53.14 points, or 0.62%, according to the (Nikkei.com) website.
Stocks rose Friday in European and U.S. markets after the European Central Bank said that it is willing to help Spain overcome its sovereign debt problems. The Dow Jones industrial average also rose sharply Friday, and this supported sentiment in the Tokyo market as trading opened Monday.
However, once buying ran its course, the index trimmed its gains as investors who were waiting for a rebound started selling on the topside, following the release of unexpectedly weak industrial production data for June.
The trading value on the first section of the Tokyo Stock Exchange reached 392.9 billion yen, reaching its lowest point since July 23, when the it sank to 374.1 billion yen. The trading volume hit 669.9 million shares.