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    HomeNewsBusinessMarketsNikkei flat, weaker yen offsets S&P downgrade

    Nikkei flat, weaker yen offsets S&P downgrade

    Japan's Nikkei average opened a tad lower on Friday, but losses were being trimmed as a weaker yen offset the impact from Standard & Poor's downgrade of Japan' sovereign debt late the previous day.

    January 28, 2011 / 11:23 IST

    Japan's Nikkei average opened a tad lower on Friday, but losses were being trimmed as a weaker yen offset the impact from Standard & Poor's downgrade of Japan' sovereign debt late the previous day.


    The yen fell to two-month lows against the euro and two-week troughs versus the dollar on Thursday after Standard & Poor's cut Japan's long-term debt rating by one notch to AA minus, saying the country's government lacked a coherent plan to tackle its mounting debt.

    The benchmark Nikkei was nearly flat, down 1.30 points at 10,477.36. The broader Topix fell 0.1% to 929.05.

    first published: Jan 28, 2011 08:17 am

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