Tuesday, March 10, 2009

Japan at 26 year low

Stocks in Asia were lower as financial fears continued to pressure sentiment. Hong Kong's Hang Seng Index led the decline, falling 4.8%, and Japan's Nikkei 225 broke through its October low to finish at the lowest level in 26 years. Adding pessimism to trading in Japan, the country reported the widest-ever current account deficit as the first deficit since 1996 came courtesy of a sharp contraction in exports due to the struggling global economy and a stronger yen.

[3/9, Schwab Center for Financial Research - Market Analysis Group]

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