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Tokyo Share Prices Reach Postbubble Low
Share prices on the Tokyo Stock Exchange fell across the board Monday due to a selling spree of high-tech shares. The 225-issue Nikkei Stock Average closed at 11,417.56, its lowest close since the collapse of the bubble economy, dropping 257.50 points from Friday's finish.
The broader-based TOPIX also closed at 1,167.09, down 15.40 points from Friday's close, after dropping to 1,162.42 in the morning, the nearest close yet to the year's record low of 1,161.97, marked on March 14.
Concerns over continuously falling share prices are mounting in the market, as it was not long ago that the previous post-bubble low of the Nikkei average was set at 11,579,27 on July 30.
The Nikkei average plummeted 243.76 points to end morning trading at 11,491.30, while the TOPIX fell 16.67 points to 1,165.82.
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