Nikkei down as investor worries over Europe's debt crisis recede

Source: Dukascopy Bank SA
Japanese blue chips were bearish on Tuesday, dragging down the Nikkei 225 Index from its more than four and a half year low, as concerns hovered over the Europe's debt crisis due to on-going Italian parliamentary election. The Nikkei 225 slid 2.3% to 11,398.81, pairing the biggest decline since 2008. All but one sector in the index slumped. Toyo Seikan Kaisha Ltd tumbled 5.8% to close at 81 yen, followed by Nitto Boseki Co Ltd that erased as much as 5.3%, adding to losses in consumer goods shares. Tokai Carbon Co Ltd lost 5.3% to 324 yen, contributing to a 2.9% decline in the basic materials sector. Meanwhile, Maruha Nichiro Holdings jumped the most in the gauge, as it was 8.2% up, followed by Kawasaki Kisen Kaisha Ltd that traded at 217 yen by its close, 6.9% higher. The target shipping company rallied after its stock rating was upgraded from hold to buy and the target stock price was raised to 250 yen from 110 yen.
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Tue, 26 Feb 2013 14:28:03 GMT

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