Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Nikkei index tumbles after US plunge
AP - 23 minutes ago
TOKYO - Japan's Nikkei index tumbled more than 6 percent Tuesday as selling spread across the board on big losses on Wall Street amid growing gloom over the global economy.
The benchmark Nikkei 225 stock average lost 533.53 points, or 6.35 percent, to close at 7,863.69. The broader Topix index fell 4.88 percent to 787.12.
Sentiment in Tokyo turned sluggish after the Dow Jones industrial average plummeted nearly 8 percent Monday with a litany of bad economic indicators.
"A string of weak economic data really depressed sentiment," Yutaka Miura, a senior strategist at Shinko Securities Co. Ltd. "Investors are becoming more pessimistic over the state of the global economy."
In New York on Monday, selling spread across the board on Wall Street as a gauge of U.S. manufacturing activity in November fell to a 26-year low following similarly weak readings in Europe and China, fueling fears over a deepening global downturn.
The poor November report came the same day that the National Bureau of Economic Research, a private group, said the U.S. economy, the world's largest, has been in a recession since December 2007.
Kazuhiro Takahashi, an equity strategist at Daiwa Securities SMBC Co. Ltd., said the Nikkei index was under heavy selling pressure as investors were bracing for a weak November employment report due out on Friday.
"It will be yet another sign confirming the U.S. economic deterioration. Investors are simply unable to find any positive leads right now," Takahashi said.
Apart from fears over a prolonged global downturn, the Nikkei index plummeted on heavy selling of exporters on recent gains in the yen, which erodes overseas earnings. The dollar was little changed at 93.16 yen in late afternoon Tokyo trade.
Japan's top automaker, Toyota Motor Corp., tumbled 4.1 percent to 2,825 yen. Honda Motor Corp. dropped 6.9 percent to 1,886 yen.
Sony Corp. fell 4.6 percent to 1,751 yen and its rival Panasonic Corp. shed 3.3 percent to 1,111 yen.
Japanese financial giant Mizuho Financial Group Inc. plunged 8.4 percent to 228,300 yen.
Email Story
IM Story
Printable View
Blog This
Recommend this article
Average (0 votes)
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: China's Economy
Nikkei index tumbles after US plungeAP - 23 minutes ago
After another sell-off, nations try again on credit crunchAFP - 33 minutes ago
S Korea faces challenge as global slump hits exports: presidentAFP - 51 minutes ago
Hynix says China JV stake sale to Numonyx delayedReuters - 52 minutes ago
Related Articles: Business
JGBs rise on Nikkei's slide, surge in TreasuriesReuters - 15 minutes ago
Mining group Vedanta launches $250 mln share buybackReuters - 17 minutes ago
TEXT-BOJ takes steps to ease firms' funding squeezeReuters - 18 minutes ago
South Korean won down as econ worries hit sharesReuters - 18 minutes ago
Boeing engineers, tech workers ratify contractsAP - 21 minutes ago
Related Full Coverage
China Economy
china economy
All Full Coverage
Most Popular – Business
Viewed
Wall Street plunges as recession becomes reality
World AIDS Day highlights big challenges 20 years on
Saudi king says 75 dollar oil price 'fair'
Love handles increase death risk: study
World's oldest person dies at 115 years
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular