Japan

Japan's key Nikkei index falls nearly 3 per cent

Japan's key Nikkei index falls nearly 3 per centTokyo - Japan markets continued their losing streak Friday with the key Nikkei index dropping nearly 3 per cent.

In the first 15 minutes of trading, the Nikkei 225 Stock Average lost 232.45 points, or 2.75 per cent, to 8,228.53.

The broader Topix index of all first-section issues was down 24 points, or 2.75 per cent, to 847.7.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 97.58-63 yen, down from Thursday's quote of 97.68-70 yen.

PM arrives in Beijing to attend ASEM-7

Manmohan SinghBeijing, Oct 23 : Prime Minister Dr. Manmohan Singh on Thursday arrived in Beijing to attend the seventh Asia-Europe Meeting (ASEM-7) scheduled from Friday after his three-day visit to Japan.

On his arrival to Beijing, Dr. Singh said, “This is the first time that I am attending the Asian-European summit as a Prime Minister.”

“I sincerely hope that this meeting of minds between Europe and Asia will produce a solution to many global problems including the current global financial crisis,” Dr. Singh added.

Sony revises downward earnings forecast for year amid slow economy

Sony Corp.Tokyo - Sony Corp revised downward its expected earnings for the current fiscal year by 38 per cent on a strengthening yen and slowing demand for consumer electronics amid a sluggish global economy, the company said Thursday.

The second-largest maker of consumer electronics in the world now expected a net profit of 150 billion yen (1.51 billion dollars) for the year ending March 31, down from an initial projection of 240 billion yen announced in July.

Last year, Tokyo-based Sony made a net profit of 369.44 billion yen.

Manmohan hails Indian community in Japan for building bridges of friendship

Tokyo, Oct 23: While addressing the reception hosted by Japan-India Association and Japan-India Parliamentary Friendship League, Prime Minister Dr. Manmohan Singh has thanked Japan for providing development assistance for India''s industrial modernization.

"In the next phase of our relationship, we seek to exploit the opportunities offered by globalization and by the synergies in our economies to expand flows of trade, technology and investment," Dr. Singh said.

He said that there are around 15000 strong Indian Diaspora in Japan largely involved in the technological professions and have toiled to make a mark in the Japanese society.

Japan's trade surplus shrinks 85.6 per cent, hits 26-year-low

Japan's trade surplus shrinks 85.6 per cent, hits 26-year-low Tokyo - Japan's trade surplus in the six months from April to September hit the lowest mark in more than 26 years as high energy prices pushed up import costs and slowed exports amid the global financial crisis, the Finance Ministry said Thursday.

Japan markets fall on Wall Street's overnight losses, stronger yen

Japan markets fall on Wall Street's overnight losses, stronger yenTokyo - Japan markets continued their losing streak Thursday, plummeting to a five-year low following Wall Street's overnight losses and a stronger yen dimming export prospects.

The Nikkei 225 Stock Average tumbled 478.95 points, or 5.52 per cent, to 8,195.74. The key index lost more than 7 per cent at one point during morning trading to hit the lowest intraday level since late May 2003.

The broader Topix index of all first-section issues also fell 42.91 points, or 4.83 per cent, to 846.32.

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