Nikkei Average Dives on Yen's Spike

Tokyo, Sept. 30 (Jiji Press)--Japan's benchmark Nikkei 225 stock average dived on Monday, dragged down by the yen's appreciation.

Tokyo stocks were also hit by a wave of selling after the market's sharp ascent late last week.

The Nikkei finished at 37,919.55, down 1,910.01 points, or 4.80 pct, from Friday. It briefly lost more than 2,000 points in the afternoon. The broader TOPIX index was down 95.00 points, or 3.47 pct, at 2,645.94.

Both indexes fell for the first time in three market days.

In Tokyo currency trading Monday, the dollar stood at 142.05-06 yen at 4 p.m., down from 143.18-20 yen at 5 p.m. Friday. The greenback briefly slipped below 142 yen.

[Copyright The Jiji Press, Ltd.]