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Nikkei closes at 26-year low

Text by AFP

Latest update : 2008-10-27

Tokyo's Nikkei index closed at 6.36% by the end of trading on Monday, standing at 7165.90 points, the lowest level in 26 years. Japanese Prime Minister Taro Aso announced measures earlier in the day to rescue the stock market.

  
Japan's Nikkei stock index plunged 6.36 percent by the close on Monday, hitting the lowest level since 1982 before the economic bubble, as fears grew of a global recession.
   
The Nikkei fell 486.18 points to 7,162.90, the weakest since October 1982.
   
The fresh losses came despite a pledge by the Group of Seven major economies to cooperate to bring stability to the ailing financial system.
  

Date created : 2008-10-27

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