4 January 2001, 10:02 Japan stocks end 0.7% lower despite Fed interest rate cut
Tokyo--Jan. 4--The Nikkei 225 Stock Average ended the first session of
the new year in the negative column as underlying pessimism over the
decelerating local economy growth and future course of the U.S. share
market weighed on Japanese equities. The Nikkei opened higher led by
short-term dealers following the Nasdaq jump overnight after the Federal
Reserve decided on a surprise 50 basis point cut in interest rates.
However, earlier gains were erased, with the Nikkei closing half-day
trading at 13,691.49, down 0.7%, or 94.20 points from the previous
session.
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