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Asia: Tokyo stocks down sharply
Wed, 08 Feb, 2012
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Asia: Tokyo stocks down sharply
Tue, 31 Aug 2010, 08:50:00
The Nikkei fell 3.36% on Tuesday, its biggest decline in three weeks, as the yen continued to rise against major currencies and investors brace themselves for this week's US economic data. Markets were mostly unimpressed with measures announced yesterday by the Bank of Japan to stop further appreciation of the yen and encouarge economic growth. Exporters fell by the wayside with shares of
Canon
down 4.18%,
Sony
off 3.86% and
Toyota
falling 2.46% in Tokyo. Peers
Nissan Motor
fell 0.6% while
Honda Motor
dropped 2.63%. Banks were also hit with shares in
Mitsubishi UFJ Financial
falling over 2%. Techs were also down with
Tokyo Electron
down 4.5% and
Elpida Memory
4.6% lower.
Inpex
tumbled 3.5% while
Japan Petroleum Exploration
lost nearly 4% as crude prices fell. The benchmark Nikkei 225 index closed down 325 points at 8,824 in Tokyo. The Hang Seng also traded lower as shares of
Foxconn International
weighed the most. Shares in the mobile phone giant slumped over 8% in Hong Kong after it said first half losses widened. Losses were seen across the board with heavyweights
HSBC
down 1.68%,
China Mobile
off 1.24% and
Manulife
losing 2.74%.
Sun Hung Kai Properties
dropped 2%. The Hang Seng index fell 200 points at 20,536 in Hong Kong.
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