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Nikkei plunges to fresh 19-year low
TOKYO, Japan -- Tokyo's Nikkei average fell below a 19-year closing low at the start of trade on Thursday. That came after rising tensions over Iraq's arms declaration pushed the U.S. Nasdaq index down more than two percent to a one-month low. Top broker Nomura Holdings Inc and other blue chips were hit by light selling, knocking the Nikkei back 0.50 percent or 41.49 points to 8,302.52 in the first half-hour of trade. That is below a 19-year closing low of 8,303.39 hit on November 14. The broader capital-weighted Topix of all first section issues lost 0.48 percent to 811.80 -- an 18-year low. On Wall Street Wednesday, the Nasdaq lost 2.19 percent to 1,361.51, while the Dow Jones industrial average fell 1.03 percent to 8,447.35. The next support line for the Nikkei is seen at 8,197, a 19-year intraday low marked on October 10. The Nikkei has fallen for 10 of the last 11 sessions. Among other markets in the region, Australia is also lower, down about 0.27 percent. But New Zealand is showing a gain of about 0.6 percent after the New Zealand Treasury forecast growth to the next March would be about 4.0 percent. South Korea's market is closed Thursday for the presidential elections. Seoul was the only main market in Asia to gain on Wednesday. Reuters contributed to this report.
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