Date: Friday 25 Jun 2010
The Nikkei ended down almost 2%, or 190 points, at a two-week low as investors worried about signs of weaker than expected consumer demand in America, raising fears about corporate earnings.
Traders predict further falls if there’s no encouraging news out of this weekend’s G20 summit in Canada where world leaders are due to discuss the globe’s emergence from recession.
In company news, a Credit Suisse downgrade to ‘underperform’ from ‘neutral’ had camera group Canon all a blur. Tokyo Electron also fell foul of the Swiss broker.
Similar concerns hit exporters over in Hong Kong, while blue chip oil giant PetroChina suffered a hiccup.
The leading Hang Seng index is down 86 points at 20,646.
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