Tokyo stocks fall on concerns over US financial sector

March 3rd, 2009 - 2:38 pm ICT by IANS  

Tokyo, March 3 (DPA) The Japan market ended Tuesday trading lower with the key Nikkei index falling to the lowest level in four months at one point in morning trading on lingering concerns over the US financial sector.
The benchmark Nikkei 225 Stock Average lost 50.43 points, or 0.69 percent, to close at 7,229.72.

The broader Topix index of all first section issues was also down 7.79 points, or 1.06 percent, to 726.8, the lowest finish since Dec 26, 1983.

Tokyo investors sold a wide range of issues after the Dow Jones Industrial Average lost 4.2 percent, slipping to its lowest level since late April 1997 on worries over the future of the US financial sector, also dragged down by insurer American International Group Inc reporting a $62 billion quarterly loss.

On currency markets at midday (0300 GMT), the dollar traded at 97.32-35 yen, up from Monday’s 5 p.m. quote of 97.24-27 yen.

The euro was quoted at $1.2599-2604, up from late Monday’s quote of $1.2594-97, and at 122.63-68 yen, up from 122.49-53 yen.

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe