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Kyodo economic news summary+
(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Sept. 5_(Kyodo) _ ---------- N.Y. stocks plunge, weighed down by concern over U.S. economy
NEW YORK - New York stocks plunged Thursday with the Dow Jones index shedding more than 340 points to finish at the lowest level since late July, due to concerns over the future of the U.S. economy fueled by the worsening of unemployment data.
The Dow Jones Industrial Average finished at 11,188.23, down 344.65 points from Wednesday, after briefly sinking 356 points. It was the fourth biggest single-day loss this year.
---------- Tokyo stocks open over 2% lower on Wall Street dive, stronger yen
TOKYO - Tokyo stocks opened over 2 percent lower Friday as investors were rattled by an overnight plunge on Wall Street and the U.S. dollar's tumble versus the yen.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average lost 324.55 points, or 2.58 percent, from Thursday to 12,233.11. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 33.33 points, or 2.77 percent, to 1,168.32. The Second Section also lost ground.
---------- Japan firms' capital spending down 6.5% in April-June
TOKYO - Capital spending by Japanese companies in the April-June period shrank 6.5 percent from a year earlier on an all-industry basis, the Finance Ministry said Friday.
Manufacturers spent 1.4 percent more on plant and equipment investment than they did a year before, while nonmanufacturers spent 11.6 percent less, the ministry's quarterly poll showed.
---------- Japan's foreign reserves fall below $1 trillion in August
TOKYO - Japan's foreign exchange reserves fell below the $1 trillion mark for the first time in three months at the end of August, the Finance Ministry said Friday.
The country's foreign reserves, the world's second-largest after China's, declined $7.92 billion from late July to $996.74 billion, for the first slip in three months, the ministry said.
---------- Dollar falls to mid-106 yen in early Tokyo deals
TOKYO - The U.S. dollar traded around the mid-106 yen level early Friday in Tokyo, carrying over its weakness overnight in New York where the currency briefly fell into the 106 yen range.
At 9 a.m., the dollar fetched 106.53-58 yen against 107.05-15 yen in New York and 108.33-36 yen in Tokyo at 5 p.m. Thursday.
Copyright ? 2008 Kyodo News International, Inc.
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