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Tokyo shares open sharply lower
POSTED: 9:54 a.m. EDT, July 27,2007

Tokyo stocks opened sharply lower on Friday, with the key Nikkei down over 400 points following overnight plunge in U.S. shares.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average tumbled 435.26 points, or 2.46 percent, to 17,266.83.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange lost 45.14 points, or 2.60 percent, to 1,692.04. The Second Section was also lower.

Of the TSE's 33 sector indexes, all sectors fell, with mining, oil, wholesale, insurance and high-tech issues leading the downward trend.

The dollar's sharp drop to a three-month low to the upper 118 yen on Thursday also affected the market. Influences on export-oriented issues such as automakers and high-tech issues were especially noticeable.

The Dow Jones Industrial Average of 30 blue-chip issues on the New York market lost 311.50 points, or 2.26 percent, to close at 13,473.57 on Thursday.

From: xinhua
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