Japanese stocks skirt 26-year low
Japanese stocks traded close to 26-year lows in Tuesday trading as investor concerns about the health of the financial system persisted.
Japan’s Nikkei 225 touched 7,088.47 on Tuesday morning, close to the 26-year low that it hit in October. However, it later recovered some ground.
Other Asian markets also fell, with Hong Kong’s Hang Seng index down 1.5%.
On Monday, the US Dow Jones share index fell below 7,000 points for the first time since 1997.
Japanese analysts said talk in Tokyo of a fresh government stimulus plan was unlikely to help revive the stock market.
“Unless markets overseas stop falling there’s nothing we can do, no matter how hard we try,” said Yutaka Miura, an analyst at Shinko Securities.