TOKYO —
The key Nikkei stock index fell Tuesday for the fifth straight session to a fresh four-month closing low as a stronger yen hurt exporters and domestic worries about government and corporate finances continued to drag down the market after a three-day weekend. The 225-issue Nikkei Stock Average lost 96.10 points from Friday to 9,401.58, its lowest close since July 17, after briefly falling to as low as 9,397.79. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 9.49 points to 829.22, a new low since April 28.
Japan Airlines tumbled to an all-time closing low of 87 yen as risk of a possible bankruptcy brewed amid reluctance among its retirees to accept a significant cut in pension benefits, and after reports that trading house Mitsui has sold its stake in the struggling carrier. Marginal gains at the outset, lifted by Wall Street’s rally overnight on better-than-expected U.S. home sales and an advance in resource-linked shares on higher commodity prices, were quickly replaced by losses and soured sentiment further spurred the decline.
