12 Sep '11, 7am

Tokyo stocks end at 29-month low on Greek fears

TOKYO: Tokyo stocks tumbled 2.31 per cent on Monday to their worst close for 29 months as fresh concerns over a possible Greek default sent the euro to a 10-year-low against the yen. The benchmark Nikkei 225 index at the Tokyo Stock Exchange lost 201.99 points to 8,535.67, its lowest close since April 28, 2009, as selling hit major exporters. The broader Topix index of all first-section issues dropped 14.44 points or 1.91 per cent to 741.26. Global markets suffered heavy losses on Friday after the shock resignation of the European Central Bank chief economist Juergen Stark, which signalled more turmoil in the eurozone. Stark, known as an anti-inflation hawk, was critical of the bank's controversial programme of buying bonds issued by heavily indebted countries such as Greece who find the markets closed to them. "Disagreements within the ECB are raising concerns that the de...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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Tokyo stocks fall to lowest since April 2009

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