Tokyo stocks decline after slow US jobs growth sends Yen higher

Tokyo stocks declined Monday after tepid US jobs growth data sent the dollar sharply lower against the yen, inviting selling in Japanese heavyweights such as Fanuc and Fast Retailing. The Nikkei Stock Average fell 208.12 points, or 1.4%, to 14,258.04, following a 3.3% rise Friday, accordin gto the (Nikkei.com) website. The Topix index of all the Tokyo Stock Exchange First Section issues also dropped 11.43 points, or 1.0%, to 1,184.74, with 31 of 33 subindexes ending in negative territory. Trading volume was low, totaling about 2 billion shares worth Y1.6 trillion. Tokyo stocks opened lower after a weaker-than-expected reading on US jobs growth Friday sent the yen sharply higher against the greenback. A stronger currency is bad for export-led economies like Japan. Many heavyweights, such as factory automation equipment maker Fanuc dropped 2.1% to Y15,660. Fast Retailing declined 2.5% to Y34,700, despite reporting Friday that domestic Uniqlo same-store sales for July rose 5.5% from a year earlier.