| CATEGORY: MARKET REPORT - ASIA |
Asia: Nikkei heads south as Mitsubishi UFJ weighs |
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Thu 19 Nov 2009
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LONDON (SHARECAST) - The Nikkei fell 1.3% with Mitsubishi UFJ Financial one of the biggest decliners after it announced a huge cash call.
The lender's shares fell over 4% after it announced plans to sell as much as 1trn yen in stock as it meets new regulations for capital ratio. Peers such as Mitsubishi Tokyo fell 3.7% while Mizuho Financial slumped 6.6%.
Technology stocks also came under pressure after a weak performance on the Nasdaq in the US. Shares in Kyocera were down 2% in Tokyo.
The benchmark Nikkei 225 index closed 127 points lower at 9,549, a four month closing low.
The Hang Seng retreated 0.86% as traders embarked on a broad sell-off.
Real estate proved an exception and managed to punch through strong gains. Sino Land rose 2.5% while Sun Hung Kai Properties added 0.86%.
Banks remained under pressure with heavyweight HSBC down 0.26% and Bank of China 1.5% lower.
The Hang Seng fell 197 points at 22,643 in Hong Kong.
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