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Home >> Business
UPDATED: 17:07, May 10, 2006
Tokyo stocks tumble
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Tokyo stocks tumbled almost across the board Wednesday as investors rushed to lock in profits ahead of the upcoming U.S. Federal Reserve's policy-setting meeting amid worries over the dollar's fall against the yen.

The 225-issue Nikkei Stock Average lost 238.98 points, or 1.39 percent, to 16,951.93, ending below the 17,000 line for the first time in four trading days.

The Tokyo Stock Price Index of all First Section issues on the Tokyo Stock Exchange fell 22.44 points, or 1.28 percent, to 1,725. 06.

Retreating issues swamped advancing ones 1,408 to 232, with 53 shares ending unchanged.

Softbank was the most heavily traded issue by value. It declined 50 yen to 3,040 yen.

Bridge maker Sakurada was the day's volume leader, and ended flat at 111 yen.

Trading volume on the TSE's main section came to 2,071.47 million shares against Tuesday's 1,951.48 million shares.

The TSE's Second Section index lost 36.66 points, or 0.74 percent, to 4,936.66 on a volume of 88.66 million shares. In Osaka, the near-term June Nikkei 225 index futures contract dropped 230 points to 16,960.

Source: Xinhua


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