Asian markets close mostly lower
Friday, 27 February 2009
TOKYO, Feb 26 (RTTNews): Stock markets across the Asia-Pacific region pared their early gains and closed mostly lower Thursday as an early enthusiasm over US Federal Reserve Chairman Ben Bernanke's signal that banks might not need to be nationalised faded amid US Treasury Department's plan to "stress test" 19 of the largest banks.
Investors were skeptical of whether the US bailout package would be able to stabilize the financial system.
The Nikkei 225 index closed at 7,458, down 3.0 points or 0.04 per cent and the broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 3.0 points or 0.41 per cent to 743.
Stocks of rubber product, nonferrous metal and insurance companies led the decliners, while glass and ceramics, consumer finance, and iron and steel stocks ended in positive territory.
On the first section, gainers outnumbered decliners by 812 to 775, with 122 others remaining unchanged. Automakers and exporters closed mostly lower on profit taking even as the US dollar rose relative to the yen.
Suzuki declined 0.95 per cent, and Mazda tumbled 3.91 per cent.
Market men awaited General Motors' quarterly earnings report due later in the day.
According to a Nikkei news report, Toyota Motor plans to cut is global output to 6.5 million units in 2009 business year starting April.
Investors were skeptical of whether the US bailout package would be able to stabilize the financial system.
The Nikkei 225 index closed at 7,458, down 3.0 points or 0.04 per cent and the broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 3.0 points or 0.41 per cent to 743.
Stocks of rubber product, nonferrous metal and insurance companies led the decliners, while glass and ceramics, consumer finance, and iron and steel stocks ended in positive territory.
On the first section, gainers outnumbered decliners by 812 to 775, with 122 others remaining unchanged. Automakers and exporters closed mostly lower on profit taking even as the US dollar rose relative to the yen.
Suzuki declined 0.95 per cent, and Mazda tumbled 3.91 per cent.
Market men awaited General Motors' quarterly earnings report due later in the day.
According to a Nikkei news report, Toyota Motor plans to cut is global output to 6.5 million units in 2009 business year starting April.