Tokyo stocks mark biggest loss in 3 months on weak GDP

GMT 14:46 2014 Tuesday ,18 November

Arab Today, arab today Tokyo stocks mark biggest loss in 3 months on weak GDP

Tokyo stocks
Tokyo - KUNA

(With ECO-JAPAN-GDP-DECLINE) TOKYO, Nov 17 (KUNA) -- Tokyo stocks plunged on Monday, with a key index falling the most in three months on domestic economic data.
The 225-issue Nikkei Stock Average on the Tokyo Stock Exchange (TSE) lost 517.03 points, or 2.96 percent, from Friday to 16,973.80, ending below the 17,000 threshold for the first time since November 10. It also posted the biggest one-day loss since August.
The broader Tokyo Stock Price Index, which includes all shares on the market's first section, was down 34.28 points, or 2.45 percent, to 1,366.13, with 32 of 33 sub-indexes losing ground. Sentiment was dented by the weaker-than-expected July-September gross domestic product (GDP) data.
The government said earlier in the day that Japan's GDP contracted an annualized 1.6 percent in the third quarter, following a 7.3 percent drop in the previous quarter.
In the currency markets, at 4:30 pm (0730 GMT), the US dollar traded at JPY 115.86-90 versus JPY 116.20-30 in New York and JPY 116.29-31 in Tokyo at 5 pm Friday.

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