LOC12:08
09:08 GMT
TOKYO, Aug 8 (KUNA) -- Tokyo stocks extended their losing streak for the
second straight session Monday, sending a key index to the lowest closing
level in nearly five months after the downgrade of US government bonds late
Friday.
The 225-issue Nikkei Stock Average on the Tokyo Stock Exchange (TSE) lost
202.32 points, or 2.18 percent, from Friday to 9,097.56, the lowest closing
since March 17.
The plunge followed a 3.7 percent decline on Friday. The broader Tokyo
Stock Price Index, which includes all shares on the TSE's first section, was
down 18.10 points, or 2.26 percent, to 782.86, with 32 of 33 subindexes
closing in negative territory.
Investor sentiment was dampened as Standard Poor's on Friday cut the US
government debt rating from AAA to AA+ for the first time.
Earlier in the day, the financial leaders of the Group of Seven (G-7)
industrialized economies issued a joint statement that affirmed their
commitment to take all necessary measures to support financial stability and
growth, but its impact on the Tokyo market was limited.
The G-7 groups Britain, Canada, France, Germany, Italy, Japan and the US.
In the currency markets, at 4:30 p.m. (0730 GMT), the US dollar traded at
JPY 77.78-80 versus JPY 78.37-47 in New York and JPY 78.53-55 in Tokyo at 5 p.
m. Friday. (end)
mk.asa
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