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Nikkei drops over 4% after TSE says may halt trading
Reuters ^
| January 17, 2006
Posted on 01/17/2006 9:02:17 PM PST by RWR8189
TOKYO, Jan 18 (Reuters) - The Nikkei share average fell over 4 percent on Wednesday after the Tokyo bourse said it would suspend trading of all shares listed on the world's second-largest stock market if the number of trades exceeds its system's capacity.
The Tokyo Stock Exchange said that the number of trades totalled 2.32 million during the morning session, nearing the bourse's capacity to handle of 4 million.
A raid by prosecutors on Internet portal Livedoor Co. (4753.T: Quote, Profile, Research) this week has driven many retail investors, who had been behind the market's drive higher, to sell Internet firms like Softbank Corp. (9984.T: Quote, Profile, Research) .
The Nikkei was down 4.69 percent or 741.31 points at 15,064.64 as of 0420 GMT. The broader TOPIX index was down 5.69 percent at 1,538.85.
TOPICS: Business/Economy; Front Page News; Government; Japan; News/Current Events
KEYWORDS: japan; nikkei; tse
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1
posted on
01/17/2006 9:02:20 PM PST
by
RWR8189
To: RWR8189
2
posted on
01/17/2006 9:05:59 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
To: jdm
To: lesser_satan
Yeah, this is huge. Wonder what's going on. Japan knows something we don't? Is China about to move on Taiwan? Something is up.
4
posted on
01/17/2006 9:07:58 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
Comment #5 Removed by Moderator
To: RWR8189
6
posted on
01/17/2006 9:09:07 PM PST
by
Fiddlstix
(Tagline Repair Service. Let us fix those broken Taglines. Inquire within(Presented by TagLines R US))
To: RWR8189; All
Must be Godzilla fault or Karl Rove fault LOL!
7
posted on
01/17/2006 9:09:38 PM PST
by
SevenofNine
("Not everybody in, it, for truth, justice, and the American way,"= Det Lennie Briscoe)
To: RWR8189
Two words.
Cascade Effect.
To: beaver fever
Investors can always switch out into Whole Foods tomorrow. Trading upward again.
Not many stocks look like this after 5 years....
9
posted on
01/17/2006 9:18:01 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
To: RWR8189
10
posted on
01/17/2006 9:18:52 PM PST
by
SierraWasp
(EnvironMentalism... America's establishment of it's unconstitutional State Religion!!!)
To: beaver fever
Well done, Beav! Where's Wally tonight? :)
11
posted on
01/17/2006 9:19:56 PM PST
by
derllak
To: derllak
Do you mean Willie Green?
A little detail is in order.
To: RWR8189
Just for comparison, this would be equivalent to a -500 point (and a little change) DJIA drop. It should be pointed out that the Nikkei also dropped appx 400 points yesterday...over 1K points in two days.
Fairly serious cheese.
To: SierraWasp
Share markets across Asia declined Wednesday, hurt by Tuesday's sell-off of technology shares in New York IBM beat estimates on Tuesday and the Nasdaq was only down 0.62%. That's hardly a "sell-off of technology shares." What were these Japanese traders doing in 2000/01, when things were REALLY bad?!
Something else has gotta be up.
14
posted on
01/17/2006 9:23:50 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
To: Attention Surplus Disorder
"Fairly serious cheese."
Agreed. The first day markets opened following September 11 (September 17, 2001) wasn't nearly this bad.
15
posted on
01/17/2006 9:28:29 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
To: jdm
Here's a 3-month graph.
To: jdm
IBM beat estimates on Tuesday and the Nasdaq was only down 0.62%. Nasdaq will open down at least another 1% in the morning, according to futures at this hour
To: lesser_satan
Thanks for the graph. Amazing.
Even the 6 month is telling. Guess it was time for a sell off after all.
18
posted on
01/17/2006 9:40:32 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
To: jdm
Yeah-but.....INTC dropped about 10% a/h. Bloody.
To: montag813
"Nasdaq will open down at least another 1% in the morning, according to futures at this hour"
Thanks for the info. Should be an interesting day (to say the least) for the markets.
20
posted on
01/17/2006 9:42:44 PM PST
by
jdm
(WWW-WEBMASTER (My grandfather swears it's his email address))
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