Take it back ,, Nikkei crashing below 2% ,, guess Japan market didnt buy the 1999 date ..
Sunday September 20, 8:47 pm Eastern Time
Tokyo stocks slide more than 2 pct in early trade
TOKYO, Sept 21 (Reuters) - Tokyo stocks slid more than two percent in early Monday trading as a compromise between ruling and opposition parties over banking reform bills seemed on the rocks.
The Nikkei slid 301.40 points, or 2.16 percent, to 13,681.72. At 0035 GMT Nikei December futures were down 240 at 13,710.
Opposition leaders indicated on Sunday that they had not necessarily agreed to a compromise plan hammered out on Friday because of differences of interpretation.
''The question is, do we have an agreement or don't we have an agreement?'' said Michael Wilkins, a dealer at Credit Lyonnais. ''The market wants to know if it (the compromise) was just window-dressing ahead of (Prime Minister Keizo) Obuchi's trip.''
Ruling and opposition party legislators struggled to come to an agreement ahead of Obuchi's departure for the United States on Sunday. He is scheduled to meet with U.S. President Bill Clinton on Tuesday.
Banking stocks were down, with the banking subindex off 1.90 percent as of 0040 GMT.
Dai-Ichi Kangyo Bank fell 15 to 584. Bank of Tokyo-Mitsubishi fell 42 to 1,003. Sakura Bank fell 12 to 238. |
