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Tokyo eases as tech stocks shunned
TOKYO, Japan -- Japanese stocks eased in early Tuesday trading, as investors continued to shun many high-techs after disappointing earnings last week, while top automaker Toyota Motor was unchanged ahead of its earnings announcement. The Nikkei average opened slightly higher but soon eased and was down 0.58 percent at 9,397.91 in early trading. It fell 1.65 percent on Monday to 9,452.79, its lowest close since July 1. The broader Topix index was down over half a percent to 929.28. Electronics conglomerate Hitachi Ltd was down 1.71 percent at 518 yen, while Toyota was unchanged at 3,000 yen. Toyota will unveil its results for the April to June quarter after the close of trade as will videogame maker Nintendo. The poor opening follows a mixed day on Wall Street where blue chip stocks struggled to fight back from early losses while technology issues ended in the red. (Wall St. report) In South Korea, the key Kospi market bounced back from Monday's losses to be trading 0.88 percent firmer at 724.88. Further south, Australia's S&P200/ASX marker was a meagre 0.06 percent firmer at 3177.7 by the mid-morning session. Across the Tasman Sea, the NZSE Top 50 index was nearly half a percent stronger at 2099.6, boosted by a good result for that market's largest stock, Telecom New Zealand.
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