Date: Thursday 22 Jul 2010
The Nikkei fell for the fifth straight session as the stronger yen and Ben Bernanke’s comments about the ‘unusually uncertain’ outlook for the US economy sapped buyer appetite.His comments sank the Dow overnight and weighed on most major Asian markets on Thursday.
Carmakers moved down a gear, with Honda declining 1.1% and Nissan Motor falling 0.7%. Techs also came under pressure. TDK Corp tumbled 3.3% in Tokyo whileSharp fell 1.8%. Toshiba retreated 1.4% and Canon fell 1.3%.
Shares in Mitsubishi Corp slumped 2.6% as the price of crude declined whileSumitomo Corp lost 3.3% to 889 yen.
In currency trading the yen rose to 86.44 against the dollar in Tokyo.
The Nikkei 225 index closed down 57 points at 9,221.
The Hang Seng shrugged off earlier weakness, to finish in the blue as energy stocks dusted off initial declines.
Sentiment was hit early on as profit takers moved in and after Bernanke’s comments about the outlook for the US economy.
Heavyweight HSBC remained lower but PetroChina recovered, rising 1.15%.The Hang Seng rose 54 points at 20,549 in Hong Kong
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