Friday, February 22, 2008

Nikkei falls 1.9 pct on fresh US recession concern

Japan's Nikkei share average fell 1.9 percent on Friday, led down by exporters such as Canon Inc after new economic data fueled fears of a possible U.S. recession.

KDDI Corp plunged, becoming the biggest single drag on the benchmark average after Japan's No. 2 mobile carrier announced a new discount plan, raising fears that more price cuts might follow, which would squeeze profits.

The Nikkei .N225 ended the session down 1.9 percent at 13,423.94 and the broader TOPIX index was down 1.5 percent at 1,314.44.

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