Nikkei drops on China worries; Topix volume hits lowest since mid-Dec
cnbc.com -- Jun 24
Japan's Nikkei share average fell on Monday in choppy trade as worries about Chinese economic and financial stability soured investor sentiment, dragging down China-related stocks such as construction equipment makers and some exporters.
The benchmark Nikkei, which climbed as much as 1.5 percent early in the session, ended the day down 1.3 percent at 13,062.78.
Of 33 Topix subsectors, 25 were lower, with China-related stocks have the largest declines. The Nikkei China 50 index fell 1.9 percent.
Komatsu Ltd dropped 4.6 percent and Hitachi Construction Machinery Co by 3.7 percent. Fanuc Corp skidded 2.3 percent and Nissan Motor Co slid 3.4 percent.
Early on Monday, the Nikkei rose, supported by a weak yen. But a sell-off in other Asian markets, which were in oversold territory, erased the gains.
China bank shares led the downward spiral after official news reports at the weekend suggested Beijing would continue to keep monetary policy tight.
Japan's farm ministry said Thursday that the highly pathogenic avian influenza found at a poultry farm in the southwestern Japan prefecture of Kumamoto has been confirmed to be the H5N8 subtype, the same virus strain as the bird flu found in South Korea. (Jiji Press )
Train operators in Tokyo and surrounding areas will be shutting down coin-operated luggage lockers at main stations before and during US President Barack Obama's visit next week, as a security measure. (NHK )
Just over one ton of water contaminated with radioactive particulates leaked from one of the containment vessels at the stricken Fukushima Daiichi nuclear plant on Wednesday, Tokyo Electric Power Co (TEPCO) said. (Japan Today )
Japan is expected to secure the minimum required power supply capacity when electricity demand peaks in August, even if all the country's nuclear reactors remain offline, estimates by major regional utilities showed Thursday. (Kyodo )
Tochigi prefectural police said Thursday that they are questioning a man in his 30s over the murder of a 7-year-old girl in December 2005. Japanese media quoted police as saying that the man, who was arrested for dealing in fake brand-name goods, has hinted at his involvement in the murder. (Japan Today )
People enjoy viewing the 15-meter snow walls of the Yuki no Otani (Great Snow Valley), along the Tateyama Kurobe Alpine Route that passes through the Northern Japan Alps to link Toyama and Nagano prefectures. (The Japan News )
Tokyo prosecutors plan to look into whether a man, who has been arrested for allegedly vandalizing copies of Anne Frank's diary, is mentally competent to be held criminally responsible for his actions, informed sources said Wednesday. (Jiji Press )