Nikkei ends lower on lingering econ woes
Thursday, 22 July 2010
TOKYO, July 21 (NQN): Tokyo stocks extended their retreat for a fourth day, with moderate losses Wednesday, weighed down by lingering uncertainty over the global economy and the yen's strengthening.
The Nikkei Stock Average opened higher, following an overnight rally in US stocks.
But in afternoon trade, the index neared its year-to-date low of 9,191 logged on July 1, as the Nikkei Stock Average futures September contract came under on-and-off selling pressure.
Many banking and securities stocks hit new lows for the year, which also soured investor sentiment.
The Nikkei Stock Average opened higher, following an overnight rally in US stocks.
But in afternoon trade, the index neared its year-to-date low of 9,191 logged on July 1, as the Nikkei Stock Average futures September contract came under on-and-off selling pressure.
Many banking and securities stocks hit new lows for the year, which also soured investor sentiment.