Nikkei drops over 4% after TSE says may halt trading
Tue Jan 17, 2006 11:22 PM ET
(Updates to midafternoon)
TOKYO, Jan 18 (Reuters) - The Nikkei share average fell over 4 percent on Wednesday after the Tokyo bourse said it would suspend trading of all shares listed on the world's second-largest stock market if the number of trades exceeds its system's capacity.
The Tokyo Stock Exchange said that the number of trades totalled 2.32 million during the morning session, nearing the bourse's capacity to handle of 4 million.
A raid by prosecutors on Internet portal Livedoor Co. (4753.T: Quote, Profile, Research) this week has driven many retail investors, who had been behind the market's drive higher, to sell Internet firms like Softbank Corp. (9984.T: Quote, Profile, Research) .
The Nikkei was down 4.69 percent or 741.31 points at 15,064.64 as of 0420 GMT. The broader TOPIX index was down 5.69 percent at 1,538.85. |
