New ETF Book by Larry Connors - Click here to read more
Leasing and financial services company Orix Corp plunged 14.5 percent to 5,290 yen. Orix said on Thursday it would issue 150 billion yen ($1.6 billion) worth of convertible bonds, aiming to pay down short-term debt and raise investment funds.
"A sharp slide in the New York market dragged down shares here," said Shinji Igarashi, an equity manager in the sales department at Chuo Securities. "Japanese stocks are at the mercy of external factors such as poor U.S. economic data and selling by overseas investors."
The benchmark Nikkei was 258.38 points or 3.4 percent at 7,444.66 after falling as low as 7,406.18, its lowest since late October. The Nikkei slid nearly 7 percent on Thursday.
The broader TOPIX index fell 3.3 percent to 756.12.
U.S. stocks plunged on Thursday as a frantic flight from risk prompted by investors' deepening fears about the economy drove the benchmark Standard & Poor's 500 index to its lowest level since 1997.
The yen dipped against the dollar on Friday but held near a three-week high hit beyond 94 yen the previous day as fears over the worldwide downturn sparked a wave of risk aversion.
The yen's firmness prompted investors to sell shares of exporters. Sony slipped 1.4 percent to 1,800 yen, and camera and office equipment maker Canon Inc was down 4.4 percent at 2,500 yen.
(Editing by Michael Watson)
((rika.otsuka@thomsonreuters.com; +81-3-6441-1874; Reuters Messaging: rika.otsuka.reuters.com@reuters.net))
Keywords: MARKETS JAPAN STOCKS (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com)
COPYRIGHT
Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
MMMM
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
