Nikkei down more than 3% to 2-year closing low

Nikkei down more than 3% to 2-year closing low
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First Published: Mon, Jan 21 2008. 11 54 AM IST
Updated: Mon, Jan 21 2008. 11 54 AM IST
Tokyo: Nikkei average ended Monday down 3.9% at its lowest close since October 2005, battered by selling of bank shares and investor dumping of blue-chip shares on disappointment at a US economic stimulus proposal.
Advantest and other chip-related shares continued to fare poorly, while Softbank Corp extended its losses after Japan’s third-largest wireless carrier said it would unveil a new service, including a new fee system, later in the day.
The benchmark Nikkei closed at 13,325.94 after shedding 535.35 points. It was its lowest close since 25 October 2005. The broader TOPIX fell 3.56% to 1,293.74.
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First Published: Mon, Jan 21 2008. 11 54 AM IST
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