Don't miss

Replay


LATEST SHOWS

THE INTERVIEW

Rwandan president claims 'no problem with France'

Read more

EYE ON AFRICA

Paul Kagame visits UNESCO HQ in Paris

Read more

MEDIAWATCH

Flamboyant US Congressman's Instagram Lands Him in Bother

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 2)

Read more

THE WORLD THIS WEEK

Compromise buys Greece time and Jihadi John is unmasked (part 1)

Read more

#TECH 24

Drone vs. drone

Read more

FRANCE IN FOCUS

The future of agriculture

Read more

REVISITED

Yalta, the symbol of a new Cold War?

Read more

#THE 51%

Women in the workforce: IMF says closing the gender gap makes economic sense

Read more

Nikkei plunges seven percent in early trading

Text by AFP

Latest update : 2008-11-07

Persistent fears of a global recession and a grim warning from Toyota Motor that it was cutting its net profit forecast in half drove down Japan's benchmark Nikkei more than seven percent in early trading.

Japan's Nikkei stock index tumbled more than seven percent in early trading on Friday, hit by growing fears of a deep global recession and a profit warning from Toyota Motor.
   
The benchmark lost 633.05 points to 8,266.09.
   
Global markets tumbled on Thursday after an unprecedented British interest rate cut of 1.5 percentage points and a slew of gloomy profit forecasts.
   
After the close on Thursday, Toyota slashed its annual net profit forecast by more than half and said earnings tumbled 48 percent in the six months to September due to a stronger yen and weak global economy.

Date created : 2008-11-07

COMMENT(S)