PT Quantum Futures - Japan Stocks Update: Nikkei 225 Falls 47.18 to 8565.34

Japan Stocks Update: Nikkei 225 Falls 47.18 to 8565.34

Thursday, 18 December 2008

Dec. 18 (Bloomberg) -- Japan's benchmark stock index, the Nikkei 225 Stock Average, fell 0.55 percent at 9:05 a.m.

The index of 225 companies traded on the Tokyo Stock Exchange fell 47.18 at 8,565.34. Among the stocks in the index, 53 rose, 100 fell and 72 were unchanged.

Declines in the Nikkei 225 were led by Fast Retailing Co Ltd, Kyocera Corp and Eisai Co Ltd. About 92.97 million shares changed hands on the first section of the Tokyo Stock Exchange.

Nintendo Co Ltd, which fell 700 yen to 34,650 yen, was the most active stock by value in Japan.

The next most-active issues were Mitsubishi Ufj Financial Group Inc, which fell 1 yen to 518 yen, and Sumitomo Mitsui Financial Group Inc, which was unchanged at 354,000 yen.

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Newsflash

NEW YORK, Dec 18 (Reuters) - Rates banks charge each other for U.S. dollar-denominated funds slid to fresh 4-1/2 year lows on Thursday in the wake of the U.S. Federal Reserve's move this week to keep interest rates at rockbottom levels for a sustained period.

The Fed's dramatic measure that sent its target rate to a record low range of zero to 0.25 percent has helped to unlock credits for cash-strapped borrowers, but it has not been the immediate jolt that some traders had hoped.