Re: Dow Jones
Just read this :
Tokyo's benchmark stock
index plunged more than 3 per cent Monday morning amid investor concerns about
anti-Japanese protests in China.
The Nikkei Stock Average of 225 selected issues closed down 432.25 points, or
3.80 per cent, to end at 10,938.44 points - its lowest point since Dec. 16 when
it closed at 10,024.37. The index lost 192.48 points, or 1.66 per cent, Friday.
Stocks plunged because of concerns about spreading anti-Japan protests in China,
as well as Wall Street's steep declines last week.
Investors are increasingly becoming nervous about the U.S. stock outlook and
China-Japan tensions, said Shinko Securities equity strategist Tsuyoshi Segawa.
Even when the Nikkei lost 14 per cent between April and May last year,
"situations surrounding the market...weren't as uncertain as they are now,"
Segawa told Dow Jones Newswires.
Massive anti-Japanese protests swept across China this month, damaging Japanese
diplomatic buildings and vandalizing businesses fueled by anger over Japan's
wartime aggression and anxieties about Tokyo's military and diplomatic
ambitions.
Fears have emerged about the possible impact on Asia's two largest economies,
which are closely linked by trade and investment.
Japan's top government spokesman expressed concern about the plunge.
"It is possible concerns about Japan's relations with neighboring countries may
have been (one) reason for the decline. We need to keep watching the development
until things become stable," said Chief Cabinet Secretary Hiroyuki Hosoda
Monday.
The broader TOPIX, which includes all issues on the Tokyo Stock Exchange's first
section, also shed 41.18 points, or 3.58 per cent, to finish Monday's trading at
1,109.49. On Friday, the TOPIX lost 17.75 points, or 1.52 per cent.
In New York Friday, deepening concerns over economic growth and higher prices
led to the worst week of trading since August.
The Dow Jones industrial average fell 191.24, or 1.86 per cent, to 10,087.51 -
its lowest close since Nov. 2. With Friday's losses, it was also the first time
the Dow lost 100 points three sessions in a row since late January 2003.
The Nasdaq composite index dropped 38.56, or 1.98 per cent, to 1,908.15 for its
worst showing since Oct. 25.
In currency trading, the dollar was trading at 107.84 yen at 3 p.m. (0600 GMT)
Monday, down 0.47 yen from late Friday in Tokyo but above the 107.76 it bought
in New York later that day.
The euro rose to US$1.2893 Monday afternoon from US$1.2843 late Friday. Against
the Japanese currency, the 12-nation European currency fell to 139.01 yen from
139.15 yen.
The yield on Japan's benchmark 10-year government bond slipped to 1.2700 per
cent from Friday's finish of 1.3050 per cent. Its price rose 0.31 point to
100.26.