Stocks Close Near Lows in Tokyo, Mixed in US on Wall Street

Stock prices in Tokyo closed near their lows on Wednesday, as late futures-led selling offset earlier bargain-hunting. The Nikkei 225 Index fell 145.20 points to 14,355.45, while on Wall Street, stock prices closed mixed, despite a strong performance by the high-technology sector. Analysts say another warning about high stock valuations from Federal Reserve Chairman Alan Greenspan appeared to dampen investor enthusiasm.

Key Takeaways:

• The Nikkei 225 Index closed down 145.20 points at 14,355.45, marking a decline of 1.01% from the previous day.
• The Dow Jones industrial average fell 8.26 points to 9,544.22, with declines leading advances by a ratio of 4:3.
• More than 769 million shares changed hands on the New York Stock Exchange.
• The New York Stock Exchange composite index fell 2.21 points to 598.02, while Standard & Poor's 500-stock index slipped 0.96 to 1,271.18.
• The Nasdaq composite index rose 34.34 points to 2,376.35, defying the overall market trend.
• Key stocks that moved included America Online (up 1.5 to 88), Citigroup (up 2.75 to 58.25), and Compaq Computer (up 1.5 to 44.25).

Statistics:

• 769 million shares traded on the New York Stock Exchange.
• The Nikkei 225 Index fell 145.20 points, or 1.01%.
• The Dow Jones industrial average fell 8.26 points to 9,544.22.
• The New York Stock Exchange composite index fell 2.21 points to 598.02.
• The Nasdaq composite index rose 34.34 points to 2,376.35.
• The 30-year Treasury bond closed lower at 97 15/32, with a yield of 5.42%.

Sources:

• Tokyo stock exchange
• New York Stock Exchange
• Associated Press
• Reuters
• COMTEX (http://www.comtexnews.com)