By Shinichi Saoshiro TOKYO, Aug 15 (Reuters) - Japanese shares slid to a nine-day low on Thursday morning as investor sentiment was battered by a big slide on Wall Street amid resurgent fears of a global recession. The Nikkei share average
.N225was down 1.3% at 20,387.17 as of 0157 GMT. The index touched 20,184.85, its lowest since Aug. 6. All three major U.S. indexes closed down about 3% on Wednesday, with the blue-chip Dow .DJIposting its biggest one-day point drop since October, after the U.S. Treasury yield curve temporarily inverted for the first time in 12 years -considered a classic recession signal. .NShares of Japanese exporters retreated as the safe-haven yen JPY=strengthened against the dollar due to the widespread risk aversion. Toyota Motor Corp 7203.Tfell 1.1%, Honda Motor Co 7267.Tdropped 1.4%, Panasonic 6752.Tshed 2% and Bridgestone Corp 5108.Twas down 1.7%. Financial institutions also took a hit, as the sharp drop in bond yields was seen hurting their profitability. Mitsubishi UFJ Financial Group 8306.Tlost 1.1%, Mizuho Financial Group 8411.Tretreated 0.9% and Dai-ichi Life Holdings 8750.Tsank 2%. The broader Topix .TOPXwas down 1.31% at 1,479.94. Declining shares outnumbered gainers by 1,994 to 120. All of Tokyo's 33 sub-indexes were in the red, with oil and coal products .IPETE.Tand mining .IMING.Tthe biggest losers. (Editing by Richard Borsuk) ((firstname.lastname@example.org; +813-6441-1774))
This stream of information is provided by a third party company, Reuters, which is independent of Davy. Davy does not control the flow of articles in the stream and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. The information is never a recommendation and does not constitute investment advice.
Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.