Nikkei hits four-month low on recession worries
Tokyo - Japan's benchmark Nikkei 225 Stock Average ended at a four-month low Wednesday on worries over prolonged recession after Wall Street fell overnight and Finance Minister Shoichi Nakagawa resigned in disgrace.
The Nikkei index closed at 7,534.44, down 111.07 points, or 1.45 per cent, and the broader Topix index of all first section issues was also down 7.27 points, or 0.96 per cent, at 749.26.
Tokyo investors sold shares on pessimism Wednesday after the US markets plunged overnight and Japan's finance minister resigned the day before to take responsibility for his embarrassing appearance at last week's Group of Seven finance ministers meeting.
On currency markets at midday (0300 GMT), the dollar traded at 92.14-19 yen, down from Tuesday's 5 pm quote of 92.24-27 yen.
The euro traded at 1.2580-85 dollars, down from late Tuesday's quote of 1.2633-36 dollars, and at 115.97-116.02 yen, down from 116.55-59 yen. (dpa)