- Tokyo shares fell in early trading on Monday, after revived speculation about a possible US rate hike this month drove down stocks on Wall Street last week.
- The headline Nikkei 225 index at the Tokyo Stock Exchange dropped 1.27 per cent or 216.09 points to 16,749.67 in the first minutes of trade. The broader Topix index of all first-section issues gave up 1.42 per cent, or 19.09 points, to 1,324.77.
Daily Archives: September 12, 2016
- Shares of tech giant Samsung Electronics fell to their lowest level in nearly two months on Monday, hurt by worries the fallout from a recall of its Galaxy Note 7 smartphone may deal a bigger blow than anticipated.
- Investors have wiped off 13 trillion won (S$16 billion) from Samsung’s market capitalisation as of early Monday, with the firm’s common shares down 5.3 per cent as of 0058 GMT, underperforming a 1.4 per cent fall for the broader market and touching their lowest level since July 15.
- The South Korean firm on Saturday urged all customers affected by the recall, which the firm voluntarily initiated on Sept 2 due to faulty batteries causing Note 7 phones to catch fire, to turn of their phones.
- “Uncertainties are being amplified,” HMC Investment analyst Greg Roh said. “It might cost the company more than first expected to deal with the current problems.”
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