7 July 2004, 10:27 Nikkei at 3-week closing low on US earnings fears
Tokyo's Nikkei average fell for a fourth day to hit a three-week closing low on Wednesday as concerns about U.S. earnings weighed on the market, adding to nervousness about a weekend election in Japan.
Technology issues such as Toshiba Corp. <6502.T> followed their U.S. peers down on concern over the business outlook, fanned by Lehman Brothers' cut in its third-quarter earnings forecasts for tech bellwether Intel Corp. .
Auto makers also took a beating due to growing uncertainty over the outlook for Wall Street.
The Nikkei <.N225> was down 90.41 points or 0.79 percent at 11,384.86, adding to a 420-point fall in the previous three trading sessions. The broader TOPIX index <.TOPX> was also down 0.79 percent at 1,139.88.|||
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