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Tokyo: Stocks open flat

Monday, March 30, 2015 - 08:27
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Tokyo stocks opened almost flat on Monday, as currency rates remained stable after gains on Wall Street last week.

[TOKYO] Tokyo stocks opened almost flat on Monday, as currency rates remained stable after gains on Wall Street last week.

The Nikkei 225 index at the Tokyo Stock Exchange, which fell for the second consecutive day on Friday, was up 0.05 per cent, or 9.58 points at the start.

The dollar was at 119.22 yen (S$1.37) early Monday, compared with 119.14 yen in New York late Friday.

The euro bought US$1.0878 and 129.70 yen against US$1.0890 and 129.74 yen in US trade.

The currency market barely reacted to the figures for Japan's factory output in February that were released 10 minutes before the opening bell Monday.

Japan's factory production in February fell by a worse-than-expected 3.4 percent month-on-month, turning down from a solid rise in January, according to official data.

Before the the release the dollar fetched 119.28 yen while the euro traded at US$1.0882 and 129.81 yen.

The Dow Jones Industrial Average added 0.19 per cent on Friday, snapping a four-day losing streak as traders shrugged off weaker-than-expected US economic growth in the fourth quarter.

AFP