Around the World's Markets: Tokyo
Saturday 31 July 1999
The move came amid newspaper reports that the outgoing Zhu Xiaohua was under investigation by mainland authorities.
JAPANESE BLUE chips closed slightly lower, dampened by the sharp fall on Wall Street overnight and data showing record high unemployment and a rise in the yen. The Nikkei 225 average lost 8.06 points, or 0.05 per cent, to end at 17,861.86. "Considering the triple dose of bad news, the market really hasn't reacted much at all, which can be taken as a positive sign," said one strategist. The jobless rate hit a record high of 4.9 per cent in June topping the 4.8 per cent peak of March and April.
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