Japan’s Topix hits 19-mth closing low; autos down

TOKYO, Nov 2 (BestGrowthStock) – Japan’s broad-based Topix index fell
to its lowest close in 19 months on Tuesday as yen strength
against the dollar hurt exporter shares such as automakers while
weakness in financial shares weighed on confidence.

The benchmark Nikkei hit a seven-week low but analysts said
the Topix has been hit particularly hard by a downbeat
performance in the banking sector, on worries about stricter
global banking regulations, and by a series of equity financings
including from defensive stocks such as Tokyo Electric Power Co
(9501.T: ).

The Topix (.TOPX: ) ended the day down 0.02 percent at 803.12,
its lowest finish since April 2009.

The benchmark Nikkei (.N225: ) added 0.1 percent to 9,159.98,
after falling as low as 9,123.62, its lowest intraday level since
Sept. 9.
(Reporting by Aiko Hayashi; Editing by Edmund Klamann)

Japan’s Topix hits 19-mth closing low; autos down