Tokyo stocks ends morning down on rise of Yen

Tokyo stocks closed the morning lower Wednesday as investors took profits in the face of few trading cues, the strength of the yen and the release of China's unexpectedly weak Purchasing Managers Index for July. The Nikkei Stock Average finished at 8,601.63, down 93.43 points, or 1.07%. The benchmark index fell more than 110 points at one point, as there were few fresh incentives to support overall sentiment, prompting investors to lock in gains following the gauge's four-session advance through Tuesday, according to the (Nikkei.com) website. The index was also dragged down by the weakening of the dollar to the upper 77-yen level. Komatsu Ltd. (6301) briefly fell 10% on disappointment over its earnings, while Softbank Corp. (9984) rose more than 5%. The broader Topix index of all first-section issues also fell, sliding more than 1%. The trading value on the first section of the Tokyo Stock Exchange reached 486.1 billion yen, while the trading volume fell to 778.74 million shares.