Tokyo share prices fell below the 8,000 yen mark on Monday to close fiscal 2002's trading amid fears that the U.S. led war against Iraq will be prolonged.The sharp decline will certainly hurt the business results of many companies and commercial banks over the current business year, corporate executives fear. Firms are now legally required to report their assets' market prices, instead of face values, in their account books.The Nikkei Average of 225 selected issues on the Tokyo Stock Exchange (TSE) closed at 7,972.71 yen, down 307.45 yen from last Friday's closing index. This is the lowest closing price at the end of a fiscal year since March 1982. TOPIX, a broader index of share prices on the TSE First Section, also fell 29.92 points to 788.00 from last Friday's figure.
Source: Mainichi Shinbun
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Monday, March 31, 2003
Nikkei Closes Year Below 8,000
It's not clear what consequences this will have, but it is certainly not good news.
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