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| Version 1 | Version 2 |
|---|---|
| Nikkei losses led by Toshiba | Nikkei losses led by Toshiba |
| (about 1 hour later) | |
| Japan's Nikkei index closed lower, with shares in Toshiba sinking nearly 10% as the firm predicted record losses. | Japan's Nikkei index closed lower, with shares in Toshiba sinking nearly 10% as the firm predicted record losses. |
| The Nikkei 225 closed down 0.4% at 18,916.02, although the index had been as much as 1.6% in earlier trade. | The Nikkei 225 closed down 0.4% at 18,916.02, although the index had been as much as 1.6% in earlier trade. |
| Shares in Toshiba fell 9.8% on reports it was expecting record losses for the year to March. | Shares in Toshiba fell 9.8% on reports it was expecting record losses for the year to March. |
| After the market closed, Toshiba said it would cut 6,800 jobs at its consumer electronics division and report a record loss of 550bn yen ($4.53bn). | After the market closed, Toshiba said it would cut 6,800 jobs at its consumer electronics division and report a record loss of 550bn yen ($4.53bn). |
| The news follows findings that Toshiba had overstated its operating profit for the past six years by a total of 151.8bn yen. | The news follows findings that Toshiba had overstated its operating profit for the past six years by a total of 151.8bn yen. |
| The US dollar fell to 121.20 yen, compared with last week's rate of 123 yen after the US rate rise, and the stronger yen weighed on Japan's major exporters. | The US dollar fell to 121.20 yen, compared with last week's rate of 123 yen after the US rate rise, and the stronger yen weighed on Japan's major exporters. |
| Toyota shares closed down more than 1% and Honda ended down 0.7%. A stronger yen makes the products Japan's big exporters make more expensive to buy overseas. | Toyota shares closed down more than 1% and Honda ended down 0.7%. A stronger yen makes the products Japan's big exporters make more expensive to buy overseas. |
| Lower oil prices continued to weigh on energy-related shares. The price of Brent Crude fell to its lowest since 2004 in overnight trade to $36.17 a barrel, before recovering slightly to $36.49. West Texas Intermediate prices fell to $34.53 a barrel. | Lower oil prices continued to weigh on energy-related shares. The price of Brent Crude fell to its lowest since 2004 in overnight trade to $36.17 a barrel, before recovering slightly to $36.49. West Texas Intermediate prices fell to $34.53 a barrel. |
| In China, Hong Kong's Hang Seng index closed up 0.2% at 21,791.68, while the Shanghai Composite index closed up 1.8% at 3,642.47 - a four week high. | |
| In Australia, the S&P/ASX 200 index recovered early losses to close just 0.05% higher at 5,109.05. | |
| South Korea's benchmark Kospi index closed up 0.3% at 1,981.19. | South Korea's benchmark Kospi index closed up 0.3% at 1,981.19. |