• Most Popular
  • Most Shared

Nikkei renews 19-month low as economy fears grow

Thu Jan 10, 2008 9:12pm EST

Stocks

   

(Updates to midsession)

Stocks

TOKYO, Jan 11 (Reuters) - Japanese stocks slipped on Friday, renewing a 19-month low, as growing worries about the domestic economy hit retailers and outweighed hopes of large U.S. interest rate cuts to tackle a slowdown in the world's largest economy.

J.Front Retailing Co Ltd (3086.T), Japan's top department store operator, fell 10.7 percent to 833 yen after it slashed its full-year outlook on weak clothing sales.

The Nikkei .N225 was down 0.8 percent at midsession after a morning of seesaw trade, falling 115.73 points to 14,272.38. It fell as low as 14,258.09, its lowest since June 2006. The broader TOPIX was down 0.81 percent at 1,389.95. (Reporting by Elaine Lies)



More from Reuters

Ex-wife sues SAC's Cohen, alleges insider trading

NEW YORK/BOSTON (Reuters) - Hedge fund magnate Steven A. Cohen was accused by his former wife on Wednesday of hiding millions of dollars from her and of engaging in insider trading in a high-profile merger in the 1980s.

An an exit sign is pictured in New York City October 14, 2006.  REUTERS/Lucas Jackson
Interview:

No stimulus exit in sight

The man who predicted the fallout from the property bubble says it's still too early to talk about exiting easy money policies. In fact, more stimulus is on the way.  Full Article 

  The tail section of the turboprop MQ-9 Predator B drone is seen on the tarmac at Fort Huachuca, Arizona, December 5, 2006.

Just don't say the D-word

In the high-testosterone world of military jets, the words "drone" and "unmanned aerial vehicle" don't fly. Now there's a new term in town.  Full Article