Hold on AD, those shorts may become a good idea.
Note the bold.
Stan
Tokyo leads Asia sharply lower
November 28, 2001 Posted: 11:36 AM HKT (0336 GMT)
asia.cnn.com
Banks and tech stocks led the dowturn on the Tokyo stock market Wednesday
TOKYO, Japan -- Tokyo stocks were sharply lower by midday Wednesday, with big banks and tech stocks leading the plunge.
That followed a retreat on Wall Street and a fifth straight monthly fall in U.S. consumer confidence.
The benchmark Nikkei 225 average lost 169.19 points or 1.55 percent to 10,779.70 by midday, while the broader capital weighted TOPIX index was down 15.61 points or 1.45 percent at 1063.98.
Other Asian markets were mainly weaker, with Korea's Kospi down 2.5 percent to 653.51. Hong Kong's Hang Sang index was down about 85 points or 0.77 percent to 11,174 shortly before midday.
Australia was down 5 points to 3350, Taiwan was off 20 points to 4559 and Singapore was down 20.4 points or 1.34 percent to 1482 in late morning trade.
New Zealand was a rare gainer, adding 20.02 points or 1 percent to 2060.24.
Dow, Nasdaq both end down
In the U.S. on Tuesday, the Dow Jones industrial average had ended down 1.10 percent at 9,872.60, while the tech-heavy Nasdaq composite closed 5.26 points or 0.27 percent lower at 1935.97.
Japanese tech leaders such as consumer electronics giant Sony, mobile phone heavweight NTT DoCoMo and chipmakers Toshiba and Fujitsu were all lower.
But big banks led the morning's falls, with Mizuho Holdings down more than 7.3 percent to 317,000 yen. |
