Tuesday, January 20, 2009

Nikkei hits 2-mth low on financial worry, yen

TOKYO, Jan 21 (Reuters) - Japan's Nikkei average slipped 1.9 percent on Wednesday after earlier hitting a two-month low on rekindled fear about the global financial sector that sent banks such as Mitsubishi UFJ Financial Group (8306.T: Quote, Profile, Research) lower. Tech shares extended losses and exporters slipped as the yen remained below 90 yen, while Sony Corp (6758.T: Quote, Profile, Research) fell 2.7 percent after a newspaper said it is preparing to announce on Wednesday or Thursday details of its December restructuring plan, including where job cuts will fall. [ID:nT348951]

The benchmark Nikkei .N225 shed 155.94 points to 7,909.85 after earlier falling as far as 7,829.30, its lowest point since Nov. 21. The broader Topix .TOPX shed 1.9 percent to 789.80. (Reporting by Elaine Lies)

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