Nikkei down 1.5 pct, uncertainty haunts after rally
September 9th, 2008 | by admin |(Updates to midday)
TOKYO, Sept 9 (Reuters) – The Nikkei average fell 1.5 percenton Tuesday, as investors booked profits after a sharp rally theprevious day on the U.S. government’s bailout of top mortgagefirms, and amid continued uncertainty over the health of theglobal economy.
Japan’s top banks fell back from double-digit percentagegains seen on Monday, and shippers such as Kawasaki Kisen KaishaLtd (9107.T: Quote, Profile, Research, Stock Buzz) declined sharply after a key freight index fell toits lowest point in more than a year.
The benchmark Nikkei .N225 ended the morning down 185.43points at 12,439.03. The index had jumped 3.4 percent on Monday
The broader Topix lost 1.8 percent to 1,194.97.