TOKYO - Japanese stocks were lower Friday morning, hurt by declines in financial stocks, amid concerns about a temporary lull in the economy. The dollar was lower against the yen.
The benchmark Nikkei 225 index shed 58.46 points, or 0.36 percent, to 16,140.11 points on the Tokyo Stock Exchange at midday Friday. The index finished down 17.17 points, or 0.11 percent, at 16,198.57 points the previous day.
Wary sentiment over the state of the economy led to the Nikkei's fall in morning trade.
Stocks slumped after the government said Wednesday that September's leading indictors fell below 50.0 boom-or-bust line for the third month in a row.
Traders would be watching the results of machinery orders, due out later in the day, and third-quarter gross domestic product data due next week for further clues.
Megabank Sumitomo Mitsui Financial Group was among the decliners, while Mitsubishi UFJ Securities Co. rose slightly.
Sumitomo Titanium Corp. and other commodity stocks posted gains, while the overnight rise in oil prices to $61.16 per barrel on Wall Street lifted such oil-related stocks as Japan Petroleum Exploration Co. and Inpex Holdings.
The broader Topix index, which includes all shares on the exchange's first section, fell 6.42 points, or 0.40 percent, to 1,582.64 points Friday. Losers beat gainers 1,007 to 537 on broader TSE first section.
In currencies, the U.S. dollar was trading at 117.63 yen on the Tokyo foreign exchange market at 11 a.m. (0200 GMT) Friday, down from 117.95 yen from late Thursday in New York. The euro rose to $1.2860, from $1.2826.
The yield on Japan's 10-year government bond was 1.6900 percent, down from Thursday's finish of 1.7000. Its price rose to 100.92, from 100.84.
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