23 March 2004, 09:23  Tokyo's Nikkei ends lower but blue chips rebound

Japan's Nikkei average closed lower on Tuesday for a third straight day but the index trimmed earlier hefty losses as buyers returned to Sony Corp <6758.T> and some other blue chips, which ended higher. The benchmark Nikkei average <.N225> lost 0.33 percent to close at 11,281.09. It earlier fell as low as 11,071.66, down 2.18 percent, amid global security fears and following sharp losses on Wall Street. Analysts said the drop below 11,100 seemed overdone and that market sentiment remained strong, backed up by optimism over a recovery in the economy and corporate earnings. The broader TOPIX index <.TOPX> rose 0.09 percent to close at 1,132.55.///

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