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<Asia>JP Bourse Slides 1,778 Pts or 3.1% at Close, Sharpest Single-Day Plunge YTD; Toyota, Sony Dive 6%+
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Japanese bourse descended today. The worsening situation in the Middle East shored up oil prices, sparking concerns about corporate earnings and economic recession. The unwinding of some futures long positions also weighed on the market. The Nikkei opened 327 points lower; with deeper decline, it collapsed as much as 1,965 points to bottom at 56,091. It closed down 1,778 points or 3.1% at 56,279, marking the sharpest single-day downfall this year. Exporters stumbled, with TOYOTA (7203.JP), PANASONIC (6752.JP), and SONY (6758.JP) diving over 6%. HITACHI (6501.JP), RYOHIN KEIKAKU (7453.JP), and SHISEIDO (4911.JP) tumbled 5-5.3%. NISSAN (7201.JP) plummeted 7.5%, and FAST RETAILING (9983.JP) slid 4.2%. Heavy industry stocks MITSUBISHI HEAVY INDUSTRIES (7011.JP), KAWASAKI HEAVY INDUSTRIES (7012.JP), and IHI (7013.JP) cratered 4.9-5.9%. AASTOCKS Financial News |
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