Update : Nikkei drops to 18 month low
Tokyo (dpa) - Japan's key Nikkei 225 Stock Average hit an 18-month low Monday as concerns over the US economy spread after sharp declines on Wall Street and a weak US jobs report.
The Nikkei declined 190.86 points, or 1.3 per cent, to close at 14,500.55.
The broader Topix index of all first-section issues was also down 19.2 points, or 1.36 per cent, at 1,392.71.
The Tokyo indices lost more than 4 per cent Friday, also on concerns over the US economy, Japan's biggest export market.
Later in the day Friday, the US Bureau of Labor Statistics reported that unemployment had risen to 5 per cent, a two-year high, in December as employers added 18,000 jobs, compared with additions of more than 100,000 in previous months.
The jobs data led the blue-chip Dow Jones Industrial Average to close down 2 per cent Friday and 3.5 per cent for the year so far. Other US indices fell even more.
The jobs data and stock performance spooked investors in Japan and Asia into believing the economic situation in the world's largest economy was worse than they had previously believed and it was heading toward recession.
On currency markets at midday (0300 GMT) in Tokyo, the dollar was quoted at 108.96-109.01 yen, down from Friday's 5 pm quote of 109.26-28 yen.
The euro was quoted at 1.4708-13 dollars, up from Friday's 5 pm quote of 1.4706-08 dollars, and at 160.29-34 yen, down from 160.68-72 yen.
Tokyo (dpa) - Tokyo stocks opened lower Monday due to worries over the US economy.
The Nikkei 225 Stock Average lost 147.29 points, or 1 per cent, to 14,544.12.
The broader Topix index of all first-section issues was also down 15.38 points, or 1.09 per cent, at 1,396.53.
The stocks fell more than 4 per cent on Friday.
On currency markets at 9 am (0000 GMT), the dollar was quoted at 108.60-65 yen, down from Friday's 5 pm quote of 109.26-28 yen.
The euro was quoted at 1.4745-50 dollars, up from Friday's 5 pm quote of 1.4706-08 dollars, and at 160.25-30 yen, down from 160.68-72 yen.
09:51 Jan 07, 2008