Word: nikkei
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...Worst hit Monday was Tokyo's Nikkei index, whose 6.4% slide to 7,162.9 points marked its lowest level since 1982. Hong Kong's Hang Seng was down 12.7%, its biggest single-session drop in 17 years. Other Asian indices suffered more modest declines, but all were down besides South Korea's Kospi, which was up a modest 0.8% due mostly to an interest rate...
...capital and will be selling common and preferred shares. It was negative news following negative news. Less than one week ago, Mitsubishi UFJ downgraded its net profit for the first half of the year to about half of what it was last year at this time. Japan's Nikkei index closed at its lowest level in 26 years...
...Tokyo, where the Nikkei was down 7% to its lowest level in more than five years, electronics giant Sony slashed its 2008 profit forecast by half. In South Korea, where officials said GDP growth is at a two-year low, Samsung reported a 44% earnings drop. That helped drag down the Kospi index by 9%, bringing the total loss for the week to 17%, the South Korea market's worst showing since 1997. "It seems that in the last two weeks, it has dawned on investors in Asia that no one is immune from the slowdown that is to come...
Friday's stock-market action was a microcosm: in Tokyo the Nikkei was down 9.6%; in Frankfurt the DAX - after dropping as much as 10% during the session - was down 5%; in São Paolo the Bovespa was down 6.35%. It was a global panic! Until things got to New York. The Dow and S&P both ended the day down about 3.5%. Big deal...
...That language scarcely matches the drama of the world financial crisis, but it did at least contribute to the modest optimism with which markets have attacked a new week of trading. Japan's Nikkei index climbed 3.6%, Hong Kong's Hang Seng rose 5.3%, and South Korea's Kospi jumped for the first time in a week: a 2.3% hike inspired in part by a $130 billion government assistance plan for banks announced in Seoul on Sunday...