Nikkei +60.19 +0.71% 8,522.58
Topix +3.58 +0.40% 850.49
FTSE -100.81 -2.38% 4,132.16
DAX -152.97 -3.25% 4,557.27
CAC -109.44 -3.32% 3,182.03
Dow -223.73 -2.63% 8,273.58
NASDAQ -34.80 -2.29% 1,482.05
S&P -22.54 -2.58% 850.75
10yr Note -0.6600 -0.176% 3.684%
NYMEX Crude Oil -2.09 -3.66% 54.95
Gold -0.50 -0.07% 742.00
Japan stocks rose, led by drug and rail companies, after the
nation's slip into recession lifted demand for companies relatively
insulated against a slowdown, and oil's drop boosted the profit
prospects of manufacturers.
Daiichi Sankyo Co., Japan's
third-biggest drugmaker surged 5.4 percent, while West Japan Railway
Co. gained 6 percent. Oji Paper Co., the nation's biggest user of
high-sulfur fuel oil, added 2.4 percent after crude fell a second day.
GS Yuasa Corp. surged 15 percent after the maker of batteries and
lighting equipment reported a first-half profit gain. Mitsubishi Estate
Co. tumbled 5.4 percent after the Nikkei newspaper said rents for Tokyo
offices fell for the first time in six years.
The Nikkei 225 Stock
Average rose 60.19, or 0.7 percent, to close at 8,522.58 in Tokyo,
after losing as much as 2.9 percent and rising 3.6 percent. The broader
Topix index added 3.58, or 0.4 percent, to 850.49, paring this year's
slump to 42 percent. The total value of stocks traded on the Tokyo
bourse was the lowest level since Sept. 1.
European
stocks fell, extending the worst retreat in equities in more than two
decades, after Japan unexpectedly slid into a recession and Britain's
biggest business lobby said the U.K. slump may be deeper than predicted.
Banco
Santander SA, Spain's biggest bank, and the U.K.'s HBOS Plc and BNP
Paribas SA of France slipped more than 6 percent. HeidelbergCement AG
tumbled 22 percent on concern the cement maker's owner may have to sell
shares to help prop up an investment company. Tesco Plc slid 6.6
percent after JPMorgan Chase & Co. recommended selling Britain's
biggest retailer.
Europe's Dow Jones Stoxx 600 Index lost 2.6
percent to 200.37 in London, pushing this year's decline to 45 percent.
Japan's economy shrank in the third quarter, entering the first
recession since 2001, and the business group said the U.K. economy will
contract the most in almost three decades next year.
U.S.
stocks fell, extending a two- week drop, as a record contraction in New
York manufacturing and Citigroup Inc.'s plan to cut 50,000 jobs spurred
concern the recession will deepen.
Alcoa Inc., the nation's
largest aluminum producer, lost 8.1 percent after UBS AG cut its
recommendation on the shares and the Federal Reserve Bank of New York's
general economic index slid to the lowest level since records began in
2001. Citigroup, the fourth-biggest U.S. bank by market value, slipped
3.3 percent and is down 69 percent in 2008 after four straight
quarterly losses. Exxon Mobil Corp. gained 2.4 percent as oil pared
losses on forecasts for colder weather in the eastern U.S.
The
Standard & Poor's 500 Index declined 0.6 percent to 867.7 at 1:23
p.m. in New York. The Dow Jones Industrial Average decreased 64.36, or
0.8 percent, to 8,432.95 and the Nasdaq Composite Index fell 0.7
percent to 1,506.03. Four stocks fell for every three that rose on the
New York Stock Exchange.