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Tokyo eases from 13-month highs
(CNN) -- Tokyo stocks are easier in early trade Friday, with both the Nikkei and the Topix down from Thursday's 13-month highs, despite a strong finish on Wall Street. The Nikkei opened up 0.11 percent at 10,374.22 but is down 0.7 percent to10,290.59 in mid-morning trade. The broader Topix is off 0.55 percent to 1004.00. Both the Nikkei and Topix had closed Thursday at their highest levels since July 2002. Consumer electronics leader Sony is up half a percent to 3850 yen, but automakers Toyota, Nissan and Honda are all in the red. The market's biggest stock, NTT DoCoMo, is down 0.3 percent to 314,000 yen. Rival Japan Telecom, the center of a $2.2 billion buyout by U.S. fund Ripplewood, is up 0.5 percent to 370,000 yen. Big banks are again higher, with Mizuho Holdings up 2.9 percent to 142,000 yen. In South Korea, the Kospi is up 0.5 percent -- also a 13-month high -- despite a confirmation from the central Bank of Korea that Asia's fourth-largest economy shrank in the second quarter, compared with the previous quarter. Samsung Electronics is continuing to hit record highs, up 0.9 percent to 445,500 won. Australia's market is up about a quarter of a percent, while New Zealand is slightly in the red. The moves in Asia follow gains on Wall Street, where the tech-heavy Nasdaq put on 1 percent Thursday. The Dow added 0.28 percent to 9423.68. (Full story) In Tokyo, dealers noted gains in broker Nomura Holdings on hopes that recent signs of economic recovery in Japan will prompt more stock purchases by overseas buyers. The all-industries activity index, a barometer of conditions in sectors such as construction and manufacturing, rose by a higher than expected 0.9 percent in June from the previous month, the Ministry of Economy, Trade and Industry said Friday, Reuters reported.
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