Tokyo stocks plummet nearly 5 pct to hit new low
16/9/2008 18:04
Tokyo stocks nosedived nearly five percent today to hit a new low in more
than three years, amid worries of a global financial turmoil after investment
bank Lehman Brothers collapsed.
The benchmark Nikkei 225 dropped 605.04
points, or 4.95 percent, to 11,609.72 points, its lowest closing level since
July 8, 2005, when it finished at 11,565.99.
The broader Topix index
plummeted 59.63 points, or 5.07 percent, to 1,117.57 points.
Japanese
financial markets were closed yesterday for a national holiday, when Lehman
Brothers, the fourth-largest US investment bank, filed for bankruptcy.
Lehman
Brothers Japan Inc. said it has filed for bankruptcy protection with the Tokyo
District Court today.
Lehman Brothers Japan is required to suspend operations
for 12 days to Sept. 26 after Japan's Financial Services Agency (FSA) received
the filing for bankruptcy.
Japan's central bank issued a statement on the
day, saying it will carefully watch the development and take appropriate
measures to stabilize the market.
Xinhua
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