Tokyo - Asian markets plummeted to new lows Monday, with trading halted at several stock exchanges, as investors across the region stepped up panic-selling on concerns that tumbling share values would drag economies into recession.
Stocks in Tokyo nosedived, as the benchmark Nikkei 225 tumbled 486.18 points, or 6.36 per cent, to close at 7,162.9, the lowest level in 26 years. The market crisis has shaved off half the value off the Nikkei this year.
The broader Topix index of all first-section issues also lost 59.65 points, or 7.4 per cent, to 746.46.
The Bank of Japan injected 600 billion yen (6.37 billion dollars) into the money markets Monday to ease a credit crunch as stocks prices plunged.
Tokyo - Toyota Motor Corp saw its global sales take their first quarterly dive in seven years as petrol prices soared and the global economy slowed, Japan's leading automaker said Monday.
Global sales fell by 4 per cent in the July-to-September quarter, compared with the same quarter a year earlier, to 2.24 million.
The Toyota group, which includes Daihatsu Motor Co and Hino Motors Ltd, recorded a rise in its global sales to 7.051 million units in the first six months of this fiscal year, which ends March 31, from the 7.05 million units from the same period in the previous fiscal year.
Tokyo - Canon Inc on Monday revised down its earnings projections for the year due to a stronger yen and sluggish global economy.
The Japanese electronics company expected its net profit to fall 23.2 per cent for the year through December 31 to 375 billion yen (3.98 billion dollars), which would be the first drop in nine years, it said.
Its operating profit was seen to decline 23.3 per cent to 580 billion yen and sales to fall 5.2 per cent to 4.25 trillion yen from an initial forecast.
Tokyo - Seven of the world's leading industrialized countries expressed concern Monday over the yen's strength against other major currencies and pledged to cooperate in stabilizing the global financial system.
"We are concerned about the recent excessive volatility in the exchange rate of the yen and its possible adverse implications for economic and financial stability," said an emergency statement released by the Group of Seven (G7), which consists of Britain, Canada, France, Germany, Italy, Japan and the United States.
The statement was released on Japan's request, Japanese Finance Minister Shoichi Nakagawa said after the yen soared to a 13-year high against the dollar.
Tokyo - Britain's Prince Charles and his wife Camilla arrived in Tokyo la
Tokyo - Toyota Motor Corp saw its global sales take their first quarterly dive in seven years as petrol prices soared and the global economy slowed, Japan's leading automaker said Monday.
Tokyo - Canon Inc on Monday revised down its earnings projections for the year due to a stronger yen and sluggish global economy.
Tokyo - Tokyo stocks nosedived Monday, sending the benchmark Nikkei 225 Stock Average to its lowest level in 26 years.
