Tokyo - Tokyo stocks opened mod

Tokyo - Japan's brokerage house Mitsubishi UFJ Securities Company has linked up with India's leading financial firm, Tata Capital Ltd, Japanese media reports said Wednesday.

Tokyo - Japan's current account surplus narrowed 67.4 per cent in June to 493.9 billion yen (4.5 billion dollars) from a year before, the Finance Ministry said Wednesday.

The nation's goods and services trade surplus plunged 99.8 per cent to 2 billion yen.

The goods trade surplus shrank 81.3 per cent to 252.1 billion yen.

The income surplus jumped 29.9 per cent to 593.4 billion yen.

The balance of services logged a deficit of 250.1 billion yen, down 23.1 per cent.

Tokyo - Japan's gross domestic product (GDP) in the April-June quarter shrank 0.6 per cent from the previous quarter, marking the first fall in four quarters, the government said Wednesday.

On an annualized basis, the nation's economy fell 2.4 per cent in real terms in the April-June period, compared to an average market expectation of an annualized 2.3-per-cent fall and a 0.6-per-cent quarterly fall.

Consumer spending, which accounts for more than half of Japan's GDP, dropped a real 0.5 per cent in the reporting quarter, compared to the January-March period.

Tokyo - Tokyo stocks lost more than 2 per cent Wednesday on the nation's weak gross domestic product data and overnight falls in the US market.

The Nikkei 225 Stock Average plunged 297.02 points, or 2.23 per cent, to 13,006.58.

The broader Topix index of all first-section issues also fell 26.46 points, or 2.08 per cent, at 1,244.96.

The Japanese government reported Wednesday that the nation's economy showed the first fall in four quarters.

Japan's gross domestic product (GDP) in the April-June quarter shrank 0.6 per cent from the previous quarter.