Business Topics

Feb 28, 2013

Nikkei drops further on Italian political turmoil

Stocks lost further ground Wednesday on concerns over the political turmoil on Italy. The Nikkei 225 closed down 144.84 points at the day’s low of 11,253.97 after diving 263.71 points Tuesday. The Topix slumped 13.05 points to end at 953.72 after losing 13.93 points ...

Feb 28, 2013

Greenback remains soft below ¥92

The dollar moved on a soft tone mostly below ¥92 in Tokyo trading Wednesday amid risk-aversion prompted by sluggish stocks. At 5 p.m., the dollar was quoted at ¥91.83-83, almost flat from ¥91.80-81 at the same time Tuesday. The euro stood at $1.3093-3095, up ...

Feb 27, 2013

Greenback plunges below ¥92

The dollar plunged below ¥92 in Tokyo trading Tuesday as the euro was battered after the general election in Italy left the country in political gridlock and raised uncertainties over the reconstruction of its public finances. At 5 p.m., the dollar was quoted at ...

Feb 27, 2013

Nikkei tumbles on yen rise, European worries

Stocks fell sharply Tuesday, pressured by heavy selling on the back of the yen’s upsurge and rekindled concerns over the European debt crisis after Italy’s general election. The Nikkei 225 average closed down 263.71 points, or 2.26 percent, at 11,398.81. On Monday, the key ...

Feb 26, 2013

Muddle in Italy sends stocks down

U.S. stocks are having a bad flashback to last spring, when fears of the European debt crisis sent the market spiraling lower. On Monday, election results in Italy showed a potential hung Parliament, leaving investors fearful that the country will be unable to move ...

Feb 26, 2013

Government to sell massive JT stake

The government said Monday it will sell a stake in Japan Tobacco Inc. worth nearly ¥1 trillion to help cover reconstruction costs for the 2011 earthquake and tsunami in the country’s largest share offering since 2010. The Finance Ministry owns about 1 billion shares, ...

Feb 26, 2013

Dollar climbs past ¥94 on BOJ news

The dollar climbed above ¥94 in Tokyo trading Monday on news that Asian Development Bank President Haruhiko Kuroda, an advocate of bold monetary easing, is expected to be nominated to lead the Bank of Japan. At 5 p.m., the dollar was quoted at ¥94.12-17, ...

Feb 26, 2013

Nikkei hits 52-month closing high on BOJ governor pick

Stocks scored robust gains Monday, inspired by a reported government selection of the Bank of Japan’s new chief and expectations of the country’s entry into Trans-Pacific Partnership free-trade negotiations. The Nikkei 225 average improved by 276.58 points, or 2.43 percent, to finish at the ...

Feb 22, 2013

Nikkei surrenders 159 points on profit-taking

Stocks fell Thursday, pressured by profit-taking and falls in overseas equities. The Nikkei 225 average dropped 159.15 points, or 1.39 percent, to finish the day at 11,309.13. On Wednesday, the key market gauge gained 95.94 points. The Topix eased 10.84 points, or 1.11 percent, ...

Feb 22, 2013

Greenback inches slightly higher

The dollar lacked direction against the yen in Tokyo on Thursday ahead of major events, while the euro weakened on dwindling risk appetite in financial markets. At 5 p.m., the dollar was quoted at ¥93.45-47, up from ¥93.35-36 at the same time Wednesday. The ...

Feb 21, 2013

Dow record is in sight amid talk of more mergers

Talk of more deal-making sent the stock market higher Tuesday, putting the Dow Jones industrial average within close reach of its all-time high. Reports that retailers Office Depot and OfficeMax are discussing a merger came after big corporate deals for Heinz and Dell were ...

Feb 21, 2013

Dollar drifts lower below ¥93.40

The dollar eased slightly below ¥93.40 in Tokyo on Wednesday after Prime Minister Shinzo Abe has grown cautious about proposed purchases of foreign bonds. At 5 p.m., the dollar was quoted at ¥93.35-36, down from ¥93.46-46 at the same time Tuesday. The euro stood ...