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BREAKING NEWS

Nervous start to trading in Tokyo

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Nervous start to trading in Tokyo

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Shares have rallied on the Tokyo Stock Exchange after heavy losses incurred during trading last Friday. The Nikkei was slightly up halfway through trading having plunged by more than two percent at the end of last week due to the knock-on effect of the crisis in the US subprime mortgage market.

It comes after Japan’s Central Bank pumped a further four billion dollars into the system to maintain liquidity. Shares slumped worldwide after a rise in mortgage defaults in the United States triggered fears of a global crisis. Several central banks injected billions of euros into the system to keep it afloat. Experts say the markets are likely to be volatile while the concerns over the subprime credit crisis continue.