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Japanese shares trim losses in afternoon

Japanese shares trim losses in afternoon
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First Published: Wed, Aug 29 2007. 11 11 AM IST
Updated: Wed, Aug 29 2007. 11 11 AM IST
AFP
Tokyo: Japanese share prices trimmed some of their heavy losses in late trade Wednesday, 29 August, although they remained well down due to worries over the US economy, dealers said.
In line with many other Asian markets, Japanese share prices picked up slightly as market players bought on dips after initial sharp falls.
The Tokyo Stock Exchange was down 349.40 points or 2.15% in the middle of afternoon trade at 15,938.09, still below the key psychological 16,000-point level.
The market had tumbled more than 400 points in the morning, dropping below 16,000 points for the first time in a week.
The broader Topix index was down 34.08 points — also 2.15% — at 1,550.52.
Wall Street fell sharply overnight on falling consumer confidence in the world’s largest economy and renewed concerns about its housing sector.
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First Published: Wed, Aug 29 2007. 11 11 AM IST
More Topics: Stocks | Japan | Nikkei | TOPIX | Tokyo Stock Exchange |