Tokyo stocks drop on economic concerns
Tokyo - Tokyo stocks ended Wednesday morning trading lower on renewed concerns about the economy of the United States, a major export market for Japan.
The Nikkei 225 Stock Average lost 108.27 points, or 1.3 per cent, to trade at 8,215.66. The index gained more than 5 per cent Tuesday after the US government announced a bail-out plan for the struggling Citigroup Inc.
The broader Topix index of all first-section issues was also down 14.03 points, or 1.69 per cent, at 817.55.
Stocks fell after worries about the strength of the US economy overshadowed a plan by the US central bank and Treasury Department announced two new programmes that would pump an additional 800 billion dollars into the struggling economy and unfreeze credit for consumers and small businesses.
On currency markets at 9 am (0000 GMT) in Tokyo, the dollar was quoted at 95.45-50 yen, down from Tuesday's 5 pm quote of 96.57-59 yen.
The euro was quoted at 1.3030-35 dollars, up from Tuesday's 5 pm quote of 1.2874-75 dollars, and at 124.38-43 yen, up from 124.33-37 yen. (dpa)