Nikkei closes at 26-year low on US economic concerns

March 10th, 2009 - 2:04 pm ICT by IANS  

Tokyo, March 10 (DPA) Japan’s benchmark Nikkei 225 Stock Average closed at a 26-year low Tuesday after Wall Street fell overnight on lingering concerns over the US economy.
The Nikkei index edged down 31.05 points, or 0.44 percent, to close at 7,054.98, the lowest closing figure since October 1982.

The broader Topix index of all first section issues was also down 7.03 points, or 1 percent, to 703.50.

The Tokyo market was battered Tuesday by the Dow Jones’ fresh 12-year-low overnight, extending a losing streak.

On currency markets at midday (0300 GMT), the dollar traded at 98.86-91 yen, up from Monday’s 5 p.m. quote of 98.65-68 yen.

The euro traded at $1.2648-53, down from late Monday’s quote of $1.2654-57, and at 125.07-12 yen, up from 124.86-90 yen.

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