Tokyo stocks down more than four per cent

March 17, 2011 | 09:41
(0) user say
Japanese shares slumped more than four percent in early trade Thursday as the yen hit its highest level against the dollar since World War II and workers scrambled to avoid a nuclear catastrophe.
illustration photo

The benchmark Nikkei index fell 398.83 points, or 4.39 per cent, to 8,694.89 in the first 25 minutes of trading as jittery investors again offloaded shares amid fears about the unfolding crisis at the Fukushima No.1 nuclear plant.

The Topix index of all first section shares on the Tokyo Stock Exchange lost 4.17 per cent, or 34.08 points, to 783.55.

The fall-off on the Nikkei reverses a rebound of more than five per cent on Wednesday on bargain-hunting.

Shares saw the biggest two-day sell-off in 24 years at the start of the week in the wake of Friday's massive 9.0-magnitude earthquake and tsunami, which has left nearly 13,000 people confirmed dead or missing.

AFP

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional