Nikkei edges down, inflation worries outweigh dollar

Mon Jun 9, 2008 10:07pm EDT
 
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(Updates to midday)

TOKYO, June 10 (Reuters) - Japan's Nikkei stock average edged down 0.1 percent on Tuesday as worries about inflation ate into property developers such as Mitsui Fudosan Co Ltd (8801.T) and outweighed the positive effect of a dollar that touched a three-month high, initially boosting exporters.

Softbank Corp (9984.T), Japan's third-biggest mobile phone operator, was up 2.6 percent after saying on Tuesday that it would start selling Apple Inc's (AAPL.O) new iPhone in Japan from July 11. [ID:nT268404]

The benchmark Nikkei .N225 shed 8.29 points to 14,173.09. The broader Topix was flat at 1,397.35. (Reporting by Elaine Lies;)

 

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