Date: Wednesday 23 Jun 2010
The Nikkei turned 1.7% lower on Wednesday, tracking steep last minute losses on Wall Street and as investors mulled gloomy news from Europe.An unexpected decline in US home sales rattled confidence in the economic recovery while news of Fitch Ratings downgrade of BNP Paribas and Standard & Poor's forecast of higher loan losses for Spain's banking sector reignited fears about the economic picture in Europe.
Stocks making notable moves in Tokyo included Inpex, which fell 2.7% as crude futures declined.
Exporters lost momentum as optimism about increased Chinese imports faded.Hitachi Construction fell 2.6% to 1,817 yen. Shipping lines Mitsui OSK declined 3% while Nippon Yusen dragged 4.2%.
Toyota skidded 1.7%, Fanuc fell 1.5%, Sony dropped 1% while Nintendo lost 3.1% on concern about slower demand from Europe.
The Nikkei 225 index closed down 189 points at 9,924 in Tokyo.
The Hang Seng closed in the blue after a choppy session. An unexpected fall in US home sales created a jittery session.
HSBC rose 1%, China Mobile gained 1.08% while Bank of China added 0.25%.
China Resources Land retreated 2.4%, Hang Lung Properties fell 1.6% while China Overseas Land & Investment lost 2.3%.
Energy plays moved lower with shares in PetroChina down 1.4% in Hong Kong.Cnooc declined 0.9% as crude oil futures fell 1%.The Hang Seng index rose 16 points to 20,831.
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