Nikkei falls 3 pct on Europe woes, North Korea

TOKYO, May 25 (BestGrowthStock) – Japan’s Nikkei average dropped more
than 3 percent to its lowest close in six months on Tuesday, as
the euro fell (Read more about the trembling euro. ) further on worries that Europe’s woes now included
the health of some banks in addition to sovereign debt problems.

The Nikkei’s slide was part of a broad sell-off of risk
assets including other Asian shares, oil and higher yielding
currencies.

It was triggered in part by the Bank of Spain’s take over of
a small savings bank, and exacerbated by news that North Korean
leader Kim Jong-il has ordered his military to be on a combat
footing. [ID:nSGE64O03B]

The benchmark Nikkei (.N225: ) fell 3.1 percent to 9,459.89,
its lowest finish since Nov. 30. It has lost more than 16 percent
since hitting an 18-month high of 11,408.17 in early April.

The broader Topix (.TOPX: ) fell 2.3 percent to 859.82.

Stock Research

(Reporting by Aiko Hayashi)

Nikkei falls 3 pct on Europe woes, North Korea