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Reply #34: Nikkei falls as Italy downgrade fans euro zone worries [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-20-11 08:35 AM
Response to Reply #31
34. Nikkei falls as Italy downgrade fans euro zone worries

TOKYO, Sept 20 (Reuters) - The Nikkei average fell on Tuesday after Standard & Poor's cut Italy's debt rating, raising more worries about the global impact of continued financial turmoil in the euro zone, though expectations of stimulus from the U.S. Federal Reserve cushioned the blow.

The fall in the Nikkei was in part a delayed reaction to lack of progress in Greece's debt talks after a Japanese market holiday on Monday, though some players see dwindling selling from foreign investors as a ray of hope.

"Foreign investor selling seems to be tapering off for now. But the market will remain susceptible to headlines from Europe," said a trader at a Japanese brokerage.

The Nikkei dropped 1.6 percent to 8,721.24 after a market holiday on Monday. The broader Topix index declined 1.7 percent to 755.04.
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