Tokyo stocks inched up Tuesday in lackluster dealings. London prices rose amid optimism that Britain's coming government budget could contain extensive tax cuts. Frankfurt shares climbed 1% to end near session highs on a new wave of speculation about lower German interest rates.</br></br>World-wide, stock prices fell in dollar terms. The Dow Jones World Stock Index was at 126.66, down 0.08, reflecting higher markets in Europe/Africa and Asia/Pacific and lower markets in the Americas.</br></br>Lodging stocks were the top gainers in the Dow Jones World Industry Groups, closing at 116.71, up 1.63, or 1.42%, with Accor of France posting a 9.26% gain in local currency. Semiconductor stocks trailed at 355.65, down 13.16, or 3.57%, with Micron Technology of the U.S. sliding 8.13%.</br></br>In Tokyo, the Nikkei 225-stock index, which fell 54.10 points Monday, added 13.05 to 17802.51, after being confined within a range of about 123 points. In trading Wednesday, the Nikkei fell 101.93 points to close the morning session at 17700.58. Tuesday's first-section volume was estimated at 297 million shares, down from 303.2 million shares a day earlier. Losers topped gainers, 516-430. The Tokyo Stock Price Index, or Topix, of all first-section issues, which slipped 3.60 points Monday, edged up 0.02 to 1420.77.</br></br>Dealings were subdued partly by statements by Japan's finance minister that irrecoverable bad debts in the banking system rose to 18 trillion yen ($176.6 billion) as of Sept. 30 from a June estimate of between 10 trillion yen and 15 trillion yen. Meanwhile, Japan's high-technology sector seemed to have lost its ability to push the Tokyo market higher, contrary to the trend on Wall Street. And auto-sector trading was fairly light, even though some Japanese car companies posted favorable earnings and issued improved outlooks.
This example is yes.