Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

More than 100 Nigerian schoolgirls still missing after Boko Haram attack

Read more

FOCUS

Italy helps integrate asylum seekers through training schemes

Read more

ENCORE!

Film show: Berlinale, 'The Shape of Water' and 'I, Tonya'

Read more

ACCESS ASIA

Korea's divided families: Hopes for a reunion after decades apart

Read more

MIDDLE EAST MATTERS

Iranian singer Sepideh Jandaghi: The trapped voice

Read more

IN THE PRESS

Royal gatecrasher! Queen Elizabeth attends London Fashion Week

Read more

BUSINESS DAILY

Venezuela launches its own cryptocurrency

Read more

IN THE PRESS

The secrets of Jean-Marie Le Pen: Far-right party founder publishes tell-all

Read more

EYE ON AFRICA

Tens of thousands bid farewell to Morgan Tsvangirai

Read more

Tokyo stocks down despite interest rate cut

Text by REUTERS

Latest update : 2008-10-31

Tokyo's Nikkei stock index had slipped slightly more than five percent before closing, despite the Bank of Japan's decision earlier in the day to cut interest rates for the first time in seven years.

Tokyo's Nikkei stock index closed down 5.01 percent Friday, despite the first interest rate cut by the Bank of Japan in seven years to support the ailing economy.
   
The benchmark ended 452.78 points lower at 8,576.98 after a late flurry of selling ahead of a long weekend. The sharp drop came despite the central bank's decision to lower its key lending rate by 20 basis points to 0.3 percent.
   
Many investors had been hoping for a slightly bigger cut of 25 basis points. Analysts said the move was likely to have a limited impact on Asia's largest economy, which already has very low borrowing costs.

Date created : 2008-10-31

COMMENT(S)