Nikkei loses over five pct after U.S. slide
TOKYO, April 17 (Reuters) - Tokyo's benchmark Nikkei average fell more than five
percent in early trade on Monday, dragged down by an historic loss in U.S. stocks and
selling related to a planned reshuffle of the Nikkei average's components, traders said.
At 0029 GMT, the benchmark Nikkei average was down 947.75 points or 4.64 percent at
19,486.93, regaining some lost ground.
``The declines in U.S. stocks apparently dragged down Tokyo shares, but the reshuffle in the Nikkei components played a
major role, too,' said Kazunori Jinnai, a deputy general manager at Daiwa Securities SB Capital Markets.
After breaching the 19,500 mark, the next support level would come at around 19,000, he said. |
