Tokyo stocks mixed with weak euro, Asian stocks in focus+

TOKYO, May 18 (AP) - (Kyodo)—Tokyo stocks finished mixed Tuesday as a slight recovery of the euro against the yen provided some relief to investors, but concern persisted about a further slide in the single European currency.

The 225-issue Nikkei Stock Average rose 6.88 points, or 0.07 percent, from Monday to 10,242.64, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 6.52 points, or 0.71 percent, to 913.91.

Decliners were led by the sea transport, oil and coal products, and mining sectors. Advancers included the fishery and forestry, pulp and paper, and pharmaceutical sectors.

Tokyo stocks opened higher as a weaker yen against the euro prompted investors to buy back shares, especially those of Japanese exporters that rely on Europe for a relatively high proportion of sales, brokers said. A weaker yen is welcomed by investors as it boosts the value of exporters' overseas profits when repatriated.

But after a round of buybacks, stocks trimmed earlier gains as the euro failed to gather further upward momentum and Asian stocks were mostly in negative territory, brokers added.

"The market seems to be shifting to an adjustment mood," said Masumi Yamamoto, equity market analyst at Daiwa Securities Capital Markets Co.

Investors "are looking ahead to a possible slide in the euro...with persistent worries about Europe as well as China still in mind," Yamamoto added.

The recent trend of a strong yen against the euro has been at the forefront of investor minds, brokers said, as it will affect shares of Japanese exporters that play a big part in the Tokyo stock market.

The euro was trading around the lower 114 yen zone, up from the upper 112 yen zone in Tokyo, but the common currency's recovery has been rather modest on worries that the global economy could wither amid the debt crisis in Greece and austerity measures by Greece, Spain, Portugal.

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