Tokyo stocks close lower on economic global recession

November 18th, 2008 - 4:01 pm ICT by IANS  

Tokyo, Nov 18 (Xinhua) Tokyo stocks closed lower Tuesday with the key Nikkei index dropping 2.28 percent amid investors’ anxieties about the ongoing global economic recession. The benchmark Nikkei 225 Average shed 194.17 points to 8,328.41.

The Topix index on the Tokyo Stock Exchange lost 15.05 points, or 1.77 percent, to 835.44.

On the First Section, declining issues outnumbered advancing ones 846 to 745, with 117 others remaining unchanged.

Volume leader Mitsubishi UFJ Financial Group fell 39 yen, or nearly 7 percent, to 546 yen while value leader Softbank dropped 186 yen, or over 15 percent, to 1,053 yen.

Trading volume on the main section slipped to 1,950.94 million shares from 2,026.13 million Monday.

The TSE’s Second Section index slid 6.85 points, or 0.35 percent, to 1,963.47 on a volume of 24.85 million shares.

On the Osaka Securities Exchange, the near-term December Nikkei 225 index futures contract lost 170 points to 8,320.

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