FOREX UPDATE

Tokyo - Japanese stocks slumped in Friday morning trading as the yen further strengthened against the dollar.

The Nikkei 225 Stock Average lost 245.22 points, or 2.46 per cent, to stand at 9,733.42.

The broader-based Topix index also fell 22.66 points, or 2.53 per cent, to 873.46.

A stronger yen negatively affects the competitiveness of Japanese exporters overseas.

On currency markets at 9 am (0000 GMT), the dollar traded at 89.52-55 yen, down from 89.97-99 yen in late trading Thursday.