Nikkei hits four-month closing low
Wednesday, 25 November 2009
TOKYO, Nov 24 (Reuters): Japan's Nikkei average hit its lowest close in four months Tuesday as banking shares were sold on persistent worries that more financial firms would tap the market for equity financing and as a stronger yen hurt shares of exporters.
Japan Airlines Corp plunged to a record low on worries about a possible bankruptcy, while consumer lender Takefuji Corp fell nearly 7 per cent after a two-notch downgrade from rating agency Moody's to a level indicating a very high credit risk.
The benchmark Nikkei fell 1 per cent to 9,401.58, its lowest finish since July 17.
The broader Topix declined 1.1 per cent to 829.22. Tokyo markets were closed for a holiday Monday.
Japan Airlines Corp plunged to a record low on worries about a possible bankruptcy, while consumer lender Takefuji Corp fell nearly 7 per cent after a two-notch downgrade from rating agency Moody's to a level indicating a very high credit risk.
The benchmark Nikkei fell 1 per cent to 9,401.58, its lowest finish since July 17.
The broader Topix declined 1.1 per cent to 829.22. Tokyo markets were closed for a holiday Monday.