RTRS: Nikkei down on U.S. bank worry, Topix at 25-year low
Japan's Nikkei stock average fell 0.5 percent on Monday to a four-month closing low on fears about U.S. bank nationalisation, but a report that the U.S. government may raise its stake in Citigroup (C.N) pared earlier losses. The failure of SFCG (8597.T), a high-interest lender to smaller companies, underscored worries about tightening credit hitting businesses throughout the Japanese economy and sent shares in rival firms such as Takefuji Corp (8564.T) tumbling. [ID:nT280480]
The benchmark Nikkei .N225 lost 40.22 points to 7,376.16, its lowest close since Oct 27, after earlier falling as far as 7,209.43 -- in sight of the 26-year low of 6994.90 hit on Oct. 28.
The broader Topix fell 0.6 percent to a 25-year closing low for the second day in a row, hitting 735.28.
