Japan's Nikkei opens lower despite report on massive capital injection

Business Materials 27 October 2008 05:56 (UTC +04:00)

Japan's key stock index has opened lower despite a report on massive capital injection into banks, AP reported.

The benchmark Nikkei 225 stock average fell 22.00 points, or 0.29 percent, to 7,627.08 in the first 15 minutes of trading Monday. Last week, the index lost 12 percent, hit by massive selling of export-linked shares on a soaring yen.

Sentiment remained sluggish despite a report by the Yomiuri newspaper that Japan is considering injecting public money worth 10 trillion yen ($108 billion) into struggling banks in a bid to calm jittery financial markets. The paper said the government could announce the injection measure as early as Monday.