Tokyo stocks end lower on stronger Yen

Tokyo stocks fell Monday, with the Nikkei Stock Average sliding 209.48 points, or 1.6%, to end the day at 13,275.66. The index dropped below 13,300 for the first time in three trading days.Contributing to the slide was the yen’s brief rise to the upper-97 yen level against the dollar, which prompted selling of automakers and other exporters to lock in profits, according to the (Nikkei.com) website.Investors concerned about an overheated market sold financial issues and real estate stocks, which had been driving up the market since April 4, when the Bank of Japan unveiled its ultra loose monetary easing steps.Concerns about China’s slowing economy also weighed on the market. But stocks received some support in the form of dip-buying by retail and other investors, which helped limit the downward momentum in the Nikkei Average.The trading value on the first section of the Tokyo Stock Exchange totaled about 3.786 trillion yen on a preliminary basis, surpassing 3 trillion yen for the eighth straight trading day