BoJ Left Rates at 0.5, Nikkei Falls

SITE SEARCH \| NEWS \| EARNINGS \| CALENDARS \| MUTUAL FUNDS

Sector Tables: Energy - Retail - Utilities - REIT - Banks - Brokerage - ETFs \| Oil Data

Login | Subscribe to Ticker

Market Update Analysis:

BoJ Left Rates at 0.5%, Nikkei Falls

Author: 123jump.com Staff
123jump.com
Last Update: 4:30 PM EDT May 20 2008

(Continued)

Email article | Print article

Stocks in Japan declined on the worries that the current U.S. credit market malaise in the U.S. could drag earnings of Japanese companies. Nikkei 225 index fell 0.8% to 14,160. According to a report issued by the Ministry of Industry and Trade, demand for services in March rose 0.3% after a revised demand increase of 1.6% in February. The Bank of Japan left its key interest rate at 0.5% and said that corporate profits are leveling and economic growth is slowing on rising commodities prices.

Sumitomo Realty declined after Credit Suisse cut its rating on developers from “market weight” to “under-weight” on the tightening of credit conditions in the the sector.

Other developers also dropped, Heiwa Real Estate shed 4% and Mitsubishi Estate Co. edged down 3.63%.

1 2

More: Market Update Archive