By Sophie Knight - June 19, 2012
Tokyo (Reuters) - Japan's Nikkei share
average retreated on Tuesday from the
previous day's four-week high as the
initially positive reception for Greece's
election result was chilled by concerns
about Spain's banking sector. The Nikkei
fell 0.8 percent to 8,655.87 after
rallying 1.8 percent on Monday to hit its
highest close since May 22.
Sharp Corp was Tuesday's standout with a
gain of 3.2 percent after Hon Hai Precision Industry said it was in discussions to
increase its stake in the company. But investor jitters about an intractable
euro zone crisis pushed down the overall market. "The Greek election didn't fix
the situation; if anything the problems in Europe are only spreading," said Fujio
Ando, managing director of Chibagin Asset Management. "The two-month gap between
the polls also meant there was no government to get on with improving the situation
either."
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Posted by Admin on June 19, 2012
http://theasiancenturyreport.com/2012/06/19/nikkei-knocked-off-four-week-high-on-persisting-europe-fears/
