Tokyo shares close sharply lower on talk of foreigners pulling out |
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Wed, 10 Jan 2007 07:47
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TOKYO (XFN-ASIA) - Share prices closed sharply lower after the notion gripped the market that some foreign players were unwinding long positions here to hedge against the risks of falls in the price of crude oil futures, dealers said.The blue-chip Nikkei 225 Stock Average closed 295.37 points or 1.71 pct lower at 16,942.40, off a low of 16,847.57.The broader TOPIX index of all first-section issues ended down 29.12 points or 1.72 pct at 1,663.00, off a low of 1,657.44.Decliners beat gainers 1,465 to 187, with 62 issues flat.Volume rose to 2.09 bln shares from 2.05 bln shares yesterday.(1 usd = 119.19)yumiko.nishitani@xfn.com
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Foreign investors remain net buyers of Japanese stocks in week to Dec 30 