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Nikkei falls

Globe and Mail Update

Tokyo's Nikkei 225-stock average closed just above a 19-year low Wednesday amid jitters over another fall on Wall Street.

The benchmark index finished down 1.96 per cent or 166.72 points at 8,344.01, its lowest close since Nov. 14 when it finished at a 19-year low of 8,303.39.

The broader, capital-weighted TOPIX index lost 1.94 per cent to 815.74, its lowest close since Oct 2, 1984.

"The problem here is that people don't know what would be able to trigger a fresh rally," Hiroaki Muto, general manager at Nissay Asset Management, todl Reuters. "That seems to be hurting even the bluest of blue chips such as Sony and Toyota," he said.

Meanwhile, Hong Kong's main stock index closed at a six-week low.

The Hang Seng index of 33 blue-chip stocks fell 1.72 per cent to close at 9,548.65 points, breaking below key psychological support of 9,600 points and closing at its lowest level since Nov. 1.

In London, leading shares extended losses on Wednesday. At last check, the FT-SE 100-stock index was down 29.1 points to 3,879.9, adding to Tuesday's 75-point fall on disappointment that New York markets turned tail on Tuesday after Monday's impressive surge forward.

With a report from Reuters News Agency

© The Globe and Mail

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