After the JPY
robust against USD after the sliding of USD on Thursday because disappointing
new economic data, Tokyo stocks opened 0.38 lower. The Nikkei 225 at the Tokyo
Stock Exchange fell 75.37 points to 19,810.40 at the start of trade on Friday.
The data has
shown that initial jobless claims, sign of the pace of layoff, increase above
estimated level and the highest level in six weeks. While housing starts rose
less than expected.
In Tokyo, US
dollar fell 0.27 yen to 119.06 yen early on Friday after reached 199.33 yen the
day before. For Japanese exporter, the stronger yen is negative aspect as it
makes the less competitive abroad and erodes profit when repatriated.
A bit weakening
has been seen in yen compare to euro. From 128.10 yen to 128.13 yen