Tokyo, Jan. 26 (Jiji Press)–Japan’s benchmark Nikkei 225 stock average briefly tumbled more than 1,000 points to sink below 53,000 early Monday morning, as selling hit a wide range of issues amid the yen’s surge against the dollar. At 9:05 a.m., the Nikkei index of 225 selected issues listed on the Tokyo Stock Exchange’s Prime section stood down 1,052.66 points, or 1.95 pct, from Friday at 52,794.21. After hitting a two-month low around 154.20 yen in early morning trade, the dollar stood at 155.15-16 yen at 9 a.m., sharply down from 158.38-38 yen at 5 p.m. on Friday. Yen buying against the dollar intensified amid speculation over foreign exchange intervention by the Japanese and U.S. authorities, market sources said. END [Copyright The Jiji Press, Ltd.]
Nikkei Briefly Plunges over 1,000 Points on Yen’s Rise
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