Nikkei extends losses on prolonged economic worries

November 7th, 2008 - 8:37 am ICT by IANS  

Tokyo, Nov 7 (DPA) Japan’s Nikkei 225 Stock Average extended losses in early trading Friday on prolonged economic concerns and the yen’s strength against other currencies.The benchmark index shed 423.18 points, or 4.76 percent, to 8,475.96 in morning trading.

The Nikkei lost more than 6 percent in Thursday trading.

On currency markets at 9 a.m., the dollar traded at 97.27-32 yen, down from Thursday’s 5 p.m. quote of 97.90-93 yen.

The euro was quoted at $1.2690-95, down from Thursday’s 5 p.m. quote of $1.2860-63, and at 123.42-52 yen, down from 125.92-96 yen.

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