Tokyo - Japan's benchmark Nikkei 225 Stock Average plunged 5 per cent Friday and fell below 9,000 despite the Bank of Japan's announcement of an interest-rate cut as investors turned bearish over lowered corporate earnings forecasts.
The Nikkei index dropped 452.78 points to close at 8,576.98.
The broader Topix index of all first-section issues also fell 32.25 points, or 3.59 per cent, to 867.12.
Tokyo - Mizuho Financial Group Inc cut its earnings projections for fiscal 2008 that runs through March 31 due to the impact of the global financial crisis, the group said Friday.
Japan's mega banking group lowered its net profit by more than half to 250 billion yen (2.55 billion dollars) from an initial projection of 560 billion yen.
Mizuho Financial expected revenues of 3.8 trillion yen for the full year, down from an earlier forecast of 4.3 trillion yen.
Tokyo - Japan's core consumer price index (CPI) rose in September from a year before due to rising oil and food prices, and the nation's average household spending declined as people spent less on food, the government data showed Friday.
The nation's core CPI, excluding fresh food prices, rose 2.3 per cent in September, compared to a year before, as energy prices grew 14.7 per cent and non-perishable food prices rose 4.2 per cent, the Internal Affairs and Communications Ministry said.
Tokyo - Japanese Prime Minister Taro Aso on Thursday announced a new economic stimulus package worth about 26.9 trillion yen (276.33 billion dollars) to battle the impact of the global financial crisis, as speculation over an interest rate cut by the Bank of Japan mounted.
"The most important thing is to allay concerns about people's livelihoods," Aso said at a press conference.
Tokyo - Japan's benchmark Nikkei 225 Stock Average plunged 5 per cent Friday and fell below 9,000 despite the Bank of Japan's announcement of an interest-rate cut as investors turned bearish over lowered corporate earnings forecasts.
Tokyo - Mizuho Financial Group Inc cut its earnings projections for fiscal 2008 that runs through March 31 due to the impact of the global financial crisis, the group said Friday.
Tokyo - Japan's core consumer price index (CPI) rose in September from a year before due to rising oil and food prices, and the nation's average household spending declined as people spent less on food, the government data showed Friday.
Tokyo - Tokyo stocks lost some of their recent gains Friday as investors tried to lock in profits.
Tokyo - Japanese Prime Minister Taro Aso on Thursday announced a new economic stimulus package worth about 26.9 trillion yen (276.33 billion dollars) to battle the impact of the global financial crisis, as speculation over an interest rate cut by the Bank of Japan mounted.
