NEW YORK Nov 8 U.S.-listed shares of Japanese
companies tumbled on Thursday as worse-than-expected domestic
machinery orders figures increased concerns that Japan's economy
was slipping into recession and as strength in the yen weighed
on major exporters like Toyota Motor Corp.
New York-listed shares of Toyota Motor lost 1.6
percent to $78.43, after falling as low as $78.27 earlier. Canon
Inc fell 1.3 percent to $31.07.
In Japan, the Nikkei stock average fell 1.5 percent to a
three-week closing low on Thursday. The yen gained on worries
that the U.S. 'fiscal cliff', a mix of mandated tax increases
and spending cuts due to extract some $600 billion from the U.S.
economy in the new year, could push the United States and
possibly the global economy into recession.
The BNY Mellon index of leading American depositary receipts
fell 0.8 percent, while the Standard & Poor's 500 index
lost 0.9 percent.
The BNY Mellon index of leading Asian ADRs lost 0.7
percent. Other Asian markets also fell, including South Korean
shares snapping a two-day winning streak on Thursday. Hong Kong
shares suffered their worst loss since July 23, as investors
took profits and refocused their attention on the prospect of
U.S. fiscal woes roiling financial markets.
The BNY Mellon index of leading European ADRs fell
0.6 percent and the BNY Mellon index of leading Latin American
ADRs fell 1.7 percent.