Japanese companies on market downturn

The Tokyo markets were lower again Tuesday due to the effects of a lower dollar and an overnight rise in crude oil prices.

The Nikkei 225 was down 0.6 percent, which brought total losses on Monday and Tuesday to 200 points.

The Topix index was down 0.9 percent. Most technology stocks were lower, with Sony down 1.8 percent, Cannon off 1.6 percent, and Toshiba down by 1.1 percent.

Sharp lost 2.6 percent amid legal difficulties over LCD panels.

Bucking the trend was Kubotek, an electronics testing company, which was up a huge 16.3 percent on rumors that it had developed a much faster way to test for defects in large LCD panels.

Shares in the automobile manufacturing sector were also generally down.

Nissan Motors fell 1.3 percent, Honda was down 1.1 percent, and Toyota was down 1.2 percent.

Story link: Japanese companies on market downturn