Japanese shares down on unrest in Middle East
By DPA, IANSTuesday, February 22, 2011
TOKYO - Japanese stocks declined in Wednesday morning trading as investor sentiment was hurt by turmoil in the Middle East.
The benchmark Nikkei 225 Stock Average lost 20.9 points, or 0.2 percent, to trade at 10,643.8 while the broader Topix index was down 1.39 points, or 0.15 percent, at 955.31.
Investors feared rising oil prices could dampen the global economic recovery as a crackdown by Muammar Gaddafi’s security forces continued in Libya, a major oil producer, Tuesday.
More than 560 people have been killed in Libya since the unrest began, the opposition estimated. About 1,400 people were still missing, broadcaster Al Arabiya reported.
The Japanese government said Wednesday the country registered its first trade deficit in 22 months in January, of 471.4 billion yen ($5.7 billion).
Exports edged up 1.4 percent from a year earlier to 4.97 trillion yen, but imports grew 12.4 percent to 5.44 trillion yen, the Finance Ministry said in a preliminary report.
On currency markets at 9 a.m. (0000 GMT), the dollar traded at 82.77-80 yen, down from Tuesday’s 5 p.m. quote of 83.24-25 yen.
The euro traded at $1.3671-3675, up from $1.3548-3549 Tuesday, and at 113.17-19 yen, up from 112.78-82 yen.
