By KUNA,
TOKYO : Tokyo stocks continued their slide Wednesday, with the benchmark index shedding more than three percent at one point on an overnight decline on Wall. The 225-issue Nikkei Stock Average on the Tokyo Stock Exchange (TSE) lost 237.84 points, or 2.69 percent, from Tuesday to close at 8,595.01, the biggest drop since March 30. The broader Tokyo Stock Price Index, which includes all shares on the market’s first section, was down 17.34 points, or 2.08 percent, to 815.26.
Stocks declined in almost all 33 sectors on the TSE, with major decliners including financial and insuarance shares. The yen’s strength against the US dollar also prompted investors to sell export-oriented issues. Sharp Corp, the world’s top maker of liquid-crystal display televisions, lost 6.12 percent, after the company downgraded on Wednesday its group earnings forecast for the year ended March 31 to a net loss of JPY 130 billion (USD 1.3 billion).
In the currency markets, at 4:30 p.m. (0730 GMT), the US dollar traded at JPY 99.66-68 against JPY 100.37-47 in New York and JPY 100.54-56 in Tokyo at 5 p.m. Tuesday.(end) mk.aj KUNA 081106 Apr 09NNNN