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Japan stocks slide over 2 percent on recession fears

Thu Mar 6, 2008 9:13pm EST
 
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TOKYO (Reuters) - Japan's Nikkei average fell 2.9 percent to a six-week low on Friday, with exporters such as Sony Corp (6758.T: Quote, Profile, Research, Stock Buzz) hurt by a stronger yen and fears of a U.S. recession rekindled by more credit-related losses.

The benchmark Nikkei average .N225 ended the morning session down 378.60 points at 12,836.82, hitting its lowest point since January 23. It fell as much as 3.6 percent at one stage during the session.

The broader TOPIX index shed 2.6 percent or 32.99 points to 1,254.56.

(Reporting by Aiko Hayashi)

 
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