Wednesday, October 23, 2013
Nikkei Plunges On Fears China May Tighten Money Policy
TOKYO (NQN)--Tokyo stocks are widening their losses midway through the afternoon session Wednesday, with the Nikkei Stock Average sliding more than 200 points to trade around 14,500.
The dollar's rise to the lower-97 yen level is prompting stock selling, and a decline in the Shanghai Composite Index is also pushing down the benchmark Nikkei average.
An official at Securities Japan Inc. said investor sentiment is worsening in response to reports by some news agencies that a policy board member of the People's Bank of China said the Chinese central bank may moderately tighten its monetary policy.