|
 TOKYO (AP) - Japan's benchmark Nikkei stock index plunged 4.2 percent in Monday's morning session as the dollar hit a 12 1/2-year low against the yen.
The Nikkei 225 stock index dropped 514.61 points, or 4.2 percent, to 11,726.99 points on the Tokyo Stock Exchange by 11 a.m. (0200GMT). The index fell 1.54 percent Friday after losing 3.33 percent Thursday.
Players sold stock in exporting companies as the dollar sank to 97.11 yen, the lowest level since Sept. 1995. The weak dollar hurts the Japanese economy because it makes exporters' products less competitive abroad and erodes the value of overseas earnings.
|