">Forum Views ()
">Forum Replies ()
Read more with google mobile :
Japan stocks end dismal fiscal year on sour note
Yahoo!
My Yahoo!
Mail
Yahoo! Search
Search:
Sign InNew User? Sign Up
News Home -
Help
Navigation
Primary Navigation
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Secondary Navigation
Singapore
Asia Pacific
World
Search
Search:
Japan stocks end dismal fiscal year on sour note
By TOMOKO A. HOSAKA,Associated Press Writer AP - Wednesday, April 1
TOKYO - Japanese stocks retreated for the third day in a row, closing out a dismal business year that saw the country's benchmark index tumble 35 percent.
ADVERTISEMENT
The Nikkei 225 stock average lost 126.55 points, or 1.5 percent, to close Tuesday at 8,109.53. Exactly a year earlier, the Nikkei was at 12,525.54.
For Fumiyuki Nakanishi, chief equity strategist at SMBC Friend Securities in Tokyo, it was a brutal fiscal year that few saw coming. Unlike the U.S., Japan's business year runs from April to March.
"There were lots of people who were convinced that the subprime problem wouldn't affect us in Japan," he said. "They said it was over."
But then the financial crisis widened, sending the global economy, stocks and corporate profits into a steep downward spiral, Japan included.
The Nikkei hit a 26-year-low on March 10 as it teetered right above the key 7,000 level. It has rebounded since then, and analysts are hopeful that the eye of the storm has passed despite renewed financial sector jitters ahead of the G-20 global summit in London.
Shares of banks and insurance companies lost ground Tuesday. Mizuho Financial Group Inc. declined 4.6 percent to 188 yen, Sumitomo Mitsui Financial Group Inc. was off 3.1 percent to 3,410 yen, and Mitsui Sumitomo Insurance Group Holdings Inc. dived 6 percent to 2,275 yen.
Automakers were mixed as investors digested the Obama administration's plans for General Motors and Chrysler, which appear headed toward Chapter 11 bankruptcy protection soon.
Nissan Motor Co. shed 3.1 percent to 350 yen, Mazda Motor Corp. tumbled 4.1 percent to 164 yen, and Isuzu Motors Ltd. added 1.7 percent to 119 yen.
Among the day's winners, IHI Corp. jumped 3.7 percent to 112 as investors cheered the major machinery makers' brighter earnings forecasts. The company on Monday raised its operating profit outlook for this fiscal year to 20 billion yen ($205 million) from 6 billion yen and projected a far lower net loss.
The broader Topix index fell 2 percent to 773.66
In currencies, the dollar climbed against the yen but faltered versus the euro. It stood at 98.28 yen from 97.34 yen late Monday, while the euro strengthened to $1.3288 from $1.3185.
Email Story
IM Story
Printable View
Blog This
Recommend this article
0 users recommend
Sign in to recommend this article »
Most Recommended Stories »
Related Articles: Business
Fox News launches Web site FoxNation.comAP - 1 hour 12 minutes ago
Euro pares gains vs dollar on housing dataReuters - 1 hour 12 minutes ago
SABIC CEO sees growth in chemicals sector by year end: CNBCReuters - 1 hour 13 minutes ago
World Bank offers trade boost, OECD casts G20 shadowReuters - 1 hour 15 minutes ago
India govt did not need all planned MSS funds-cbankReuters - 1 hour 16 minutes ago
Most Popular – Business
Viewed
100,000 secular Britons seek 'de-baptism'
Prince William up for Afghanistan fight: report
World auto shake-up leaves investors reeling
Hot tea linked with throat cancer
Obama offers tough love to US car giants
View Complete List »
Search:
Home
Singapore
Asia Pacific
World
Business
Entertainment
Sports
Technology
Top Stories
Most Popular
Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved.
Privacy Policy
- Terms of Service
- Community
- Intellectual Property Rights Policy
- Help
Other News on Tuesday, 31 March 2009 Pakistani troops recapture Lahore police academy
| International
|
Europe-bound migrant ship sinks off Libya
| International
|
Slums may triple as economic woes hobble U.N. efforts
| International
|
Fighting kills at least 14 in Somalia
| International
|
Online crime surging in recession, U.S. report says
| Technology
|
Microsoft and TomTom settle patent fight
| Technology
|
Netflix to raise Blu-ray subscription price 20 percent
| Technology
|
EU threatens action to defend Web users' privacy
| Technology
|
NASA in Colbert conundrum over Space Station
| Entertainment
|
Hendrix home tape for sale, shows softer side
| Entertainment
|
Crosby, Stills & Nash dust off old demos
| Entertainment
|
Jazz pianist Diana Krall: Not just Mrs. Elvis Costello
| Entertainment
|
Pakistan Taliban claim responsibility for Lahore raid
| International
|
Obama bringing hefty agenda on European trip
| International
|
Iran, U.S. set to clash over troops at Afghan talks
| International
|
North Korea to try U.S. journalists as launch nears
| International
|
Israeli air strike kills two Gaza militants: medics
| International
|
Cambodia PM rejects wider Khmer Rouge trials
| International
|
Medvedev charts path to better Russian-U.S. ties
| International
|
U.S. called ill equipped for Mexico border crackdown
| International
|
Philippines imposes emergency rule on rebel island
| International
|
Seven killed by truck bomb in northern Iraq
| International
|
Microsoft unveils partners for applications store
| Technology
|
Cable operators, networks brace for an online world
| Technology
|
IBM leads techs in seeking open cloud computing
| Technology
|
Intel rolls out Xeon in crowded servers arena
| Technology
|
Malawi court to rule on Madonna adoption bid Friday
| Entertainment
|
Rock 'n' roll movie Boat just barely stays afloat
| Entertainment
|
NBC renews Friday Night Lights
| Entertainment
|
Ballet performances to unspool for moviegoers
| Entertainment
|
Courtney Love sued for Twitter defamation
| Entertainment
|
Twilight takes lead in '09 video sales
| Entertainment
|
Wackness director finds Sitter
| Entertainment
|
Monsters vs Aliens signals future 3-D successes
| Entertainment
|
Iraq: suicide bomber kills 8, wounds 12 in Mosul
Khmer Rouge torturer accepts blame for 14,000 deaths
| International
|
Netanyahu to be sworn in as Israel's new premier
Migrant boats missing off coast of Libya
US-TECH Summary
300 African migrants feared drowned off Libya
| International
|
Report says Israeli warplanes bombed Sudan convoy
Global slowdown 'fuels German unemployment'
China rejects computer spy claims as "ghost of Cold War"
Israel's swollen cabinet too big for table
Israeli warplanes bombed Sudan convoy: report
| International
|
British troops begin Iraq pullout
Microsoft to discontinue Encarta
Israeli air strike kills two Gaza militants
Global economy to shrink 1.7%: World Bank
Deal in Basque Country to oust nationalists
Google launches venture capital fund
New Iraq mission requires diplomacy, patience
KRouge prison chief asks victims for forgiveness
Microsoft unveils partners for applications store
Seven killed by truck bomb in northern Iraq
Cold War-era human lab rats seek care
Intel launches high-performance chips
New Afghan strategy planned at 'big tent' meeting
Japanese unemployment rises to 4.4 percent
Cable operators, networks brace for an online world
Afghanistan: US hopes Iran will be 'constructive'
World auto shake-up leaves investors reeling
Internet ad revenue up 10.6 pct last year: report
Israelis, Palestinians clash on Gaza border
Nine arrested in China over tainted pork
Microsoft closing Encarta online encyclopedia
An Error has occured |
New homeland security tool to detect Conficker worm
Expert: NKorea has several nuclear warheads
Maoists attack Philippine army base, at least 17 killed
| International
|
Tanzania gold mine collapses, at least 20 dead
| International
|
Japan unemployment hits three-year high
Indian court bars actor from running in election
US mil: Marine dies in non-combat incident in Iraq
Medvedev charts path to better Russian-U.S. ties
Philippine forces move toward Abu Sayyaf abductors
Yemeni doctor cleared for transfer from Guantanamo
Philippines: 17 killed in troop clash with rebels
Biden listens to top Central American leaders
India's new Gandhi kicks off election campaign
Google forms $100 million venture fund
| Technology
|
Mexico announces 'super-max' prisons
North Korea to try U.S. journalists as launch nears
China rejects computer spy claims as ghost of Cold War
| Technology
|
US names religious freedom violators
Sony cuts price of PlayStation 2 to $99.99
| Technology
|
HK writer banned from Philippines over maid column
US pledging $40 million for Afghan elections
Microsoft to discontinue Encarta
| Technology
|
2 children dead, 9 injured in China stabbing spree
Ban ends next Monday on returning war dead photos
US launches new fight against Afghan drug trade
VW unveils new Indian plant, eyes increased market
Japan PM orders fresh economic stimulus package
US-ENTERTAINMENT Summary
Oil producer CNOOC 2008 profits up 43 percent
Ballet performances to unspool for moviegoers
Exhibition at Versailles on dazzle of court life
Taiwan dollar strengthens on exporters' deals
Indonesian elephants shot dead in national park
Makeup and fashion gurus sue Queen Latifah
China Unicom says 2008 profit up 58 percent
"Wackness" director finds "Sitter"
Kazakh foreign debt grows 11 percent
Rock 'n' roll movie "Boat" just barely stays afloat
Panasonic has hopes for 3D movie home gadgets
Cold War-era human lab rats seek care
Japan stocks end dismal fiscal year on sour note
Iraq's largest lake tranquil again with Qaeda gone
Japan unemployment hits three-year high
NBC renews 'Friday Night Lights' through 2011
China to launch exchange for smaller companies
Obama urged to tackle youth crime cycle
Basra wary of U.S. forces after light British touch
| International
|
Czech parties edge closer to government deal
| International
|
Pakistan court allows Sharifs to take back Punjab
| International
|
Three accused of murdering Lucky Dube found guilty
| Entertainment
|
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights