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| Version 1 | Version 2 |
|---|---|
| Japanese stocks skirt 26-year low | Japanese stocks skirt 26-year low |
| (about 1 hour later) | |
| Japanese stocks traded close to 26-year lows in Tuesday trading as investor concerns about the health of the financial system persisted. | Japanese stocks traded close to 26-year lows in Tuesday trading as investor concerns about the health of the financial system persisted. |
| The Nikkei 225 touched 7,088.47 on Tuesday morning, close to 26-year lows hit in October. It later recovered to 7229.7, down 0.69% on the day. | |
| Other Asian markets also fell, with Hong Kong's Hang Seng index down 1.9%. | |
| European markets opened slightly up after Monday's falls. The UK's FTSE 100 and France's Cac 40 indexes rose 1.2%. | |
| Germany's Dax index climbed 0.5%. | |
| On Monday, the US Dow Jones share index fell below 7,000 points for the first time since 1997. | On Monday, the US Dow Jones share index fell below 7,000 points for the first time since 1997. |
| Rebound? | Rebound? |
| After yesterday's massive sell-off the day does look likely to begin with a modest rebound Matt Buckland, CMC Markets | After yesterday's massive sell-off the day does look likely to begin with a modest rebound Matt Buckland, CMC Markets |
| Japanese analysts said talk in Tokyo of a fresh government stimulus plan was unlikely to help revive the stock market. | Japanese analysts said talk in Tokyo of a fresh government stimulus plan was unlikely to help revive the stock market. |
| "Unless markets overseas stop falling there's nothing we can do, no matter how hard we try," said Yutaka Miura, an analyst at Shinko Securities. | "Unless markets overseas stop falling there's nothing we can do, no matter how hard we try," said Yutaka Miura, an analyst at Shinko Securities. |
| However, after Monday's steep falls, some analysts expect European markets to claw back some ground. | However, after Monday's steep falls, some analysts expect European markets to claw back some ground. |
| "After yesterday's massive sell-off the day does look likely to begin with a modest rebound but whether this will prove to be sustainable remains to be seen," said Matt Buckland, a dealer at CMC Markets. | "After yesterday's massive sell-off the day does look likely to begin with a modest rebound but whether this will prove to be sustainable remains to be seen," said Matt Buckland, a dealer at CMC Markets. |
| On Monday, confidence was hit by a fresh $30bn bail-out of US insurance giant AIG following a record $62bn loss, and by the announcement from UK bank HSBC that it planned to raise £12.5bn from shareholders. | On Monday, confidence was hit by a fresh $30bn bail-out of US insurance giant AIG following a record $62bn loss, and by the announcement from UK bank HSBC that it planned to raise £12.5bn from shareholders. |
| On Wall Street, the Dow Jones fell by 4.2% to end at 6,763, the lowest closing level since April 1997. | On Wall Street, the Dow Jones fell by 4.2% to end at 6,763, the lowest closing level since April 1997. |
| The broader Standard & Poor's 500 index was down 4.7% at 701, briefly falling below the 700 level for the first time since October 1996. | The broader Standard & Poor's 500 index was down 4.7% at 701, briefly falling below the 700 level for the first time since October 1996. |
| The UK's FTSE 100 index closed at a six-year low. | The UK's FTSE 100 index closed at a six-year low. |