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Share Prices Plunge in Tokyo, Nikkei Hits Year's Closing Low
Stock prices plunged in Tokyo Wednesday as market sentiments were dampened by recent weakness in New York share prices, with the benchmark Nikkei index closing at a low for the year.
The Nikkei Stock Average of 225 selected issues on the First Section of the Tokyo Stock Exchange lost 288.67 points, or 1.81 percent, from Tuesday's close to end at 15,639.95.
The broader-based Tokyo Stock Price Index (TOPIX), covering all First Section issues, fell 25.41 points or 1.72 percent to 1,448.11, also the year's closing low.
Turnover on the major section increased to 480.86 million shares from Tuesday's 378.35 million shares.
Orient, a consumer credit firm, was the day's volume leader.
High-tech issues were dragged down after New York's Nasdaq composite index fell for the fourth straight trading day Tuesday, traders said.
The rubber, wholesale and brokerage sectors also marked sharp declines.
The drug, marine and air transportation, and real estate sectors were the only gainers among the 33 business sectors on the exchange.
Of the issues listed on the First Section, losers overwhelmed gainers 992 to 293, with 122 issues remaining unchanged.
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