Wednesday, October 23, 2013
Nikkei Ends Below 14,500 On Weak Asian Stocks
TOKYO (NQN)--Tokyo stocks fell back sharply Wednesday, with the Nikkei Stock Average plunging 287.20 points, or 1.95%, to end the day at 14,426.05.
The benchmark index closed below 14,500 for the first time since Oct. 16.
Tokyo stocks opened higher in response to a rise in the Dow Jones industrial average overnight. However, profit-taking later dominated, with the Nikkei average trimming its gains. In the afternoon, speculation that Chinese authorities will tighten that country's monetary policy prompted stocks to fall in China and other Asian countries. Risk-averse investors dumped Japanese blue chips.
The trading value on the first section of the Tokyo Stock Exchange totaled about 2.2 trillion yen on a preliminary basis.