Japanese stocks start new year down amid US jitters, high oil prices

TOKYO (AP): Japanese stock prices plunged Friday, losing ground in early transactions after jittery trade on Wall Street amid concerns about the U.S. economy and rising oil prices.

Japan's benchmark Nikkei stock index lost 430.13 points, or 2.81 percent, to 14,877.65 points on the Tokyo Stock Exchange shortly after opening Friday for a half-day session.

The TSE had been closed since Monday for the New Year's holidays. The exchange resumes full-day trading Monday.

Wall Street closed narrowly mixed Thursday after share prices plunged the previous day on weaker-than-expected data for the U.S. manufacturing sector and record oil prices. The Dow Jones industrial average rose 12.76, or 0.10 percent, to 13,056.72 Thursday, as oil set a fresh trading record of US$100.09 a barrel.

Tokyo's broader Topix index, which includes all shares on the exchange's first section, lost 38.90 points, or 2.64 percent, to 1,436.78.

In currencies, the U.S. dollar was trading at 109.54 yen at 8:50 a.m. Friday (2350 GMT Thursday), up from 109.33 yen late Thursday in New York. The euro fell to US$1.4738 from US$1.4744.