Tokyo stocks drop sharply after Sony slashes forecast

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October 24, 2008

Tokyo stocks drop sharply after Sony slashes forecast October 23rd, 2008 HONG KONG (MarketWatch) — Japanese stocks fell sharply early Friday, with Sony Corp. and other exporters such as Canon Inc. tumbling a day after the electronics major cut its net profit forecast by 38%. The Nikkei 225 Average lost 3.3% to 8,178.40 and the broader Topix index gave up 3% to 846.33. Australia’s S&P/ASX 200 declined 0.5% to 3,956, reversing early gains, and New Zealand’s NZX 50 index rose 0.4% to 2,817.03.
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