Tokyo stocks fall on European debt fears (4)

08:29, May 12, 2010      

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Consumer lenders lost ground Tuesday led by Promise Co. Ltd. plummeting 17.4 percent to 713 yen after the firm said it would likely fall back into the red this year.

Similarly, Acom Co. Ltd. plunged 7.6 percent to 1,284 yen and Takefuji Corp. fell 6.4 percent to 335 yen in a disappointing day for Japan's three big consumer lenders.

After the 3 p.m. bell Toyota Motor Corp. announced it returned to the black in its fiscal fourth quarter, despite a massive global recall of more than 8 million vehicles, citing cost cuts and robust domestic demand offsetting a drop in sales in some overseas markets, particularly the U.S. and Europe.

Before the announcement Toyota shed 0.7 percent to close the day at 3,495 yen.

Some 2.71 billion shares changed hands on the Tokyo exchange's First section, down from Monday's volume of 2.44 billion shares.

Declining issues outnumbered advancing ones by 1,050 to 508.Source:Xinhua
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