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Tokyo stocks tumble 0.89pc by break, Nikkei 225 sheds 171.36pts

Tokyo stocks tumble 0.89pc by break, Nikkei 225 sheds 171.36pts

Tokyo stocks fell 0.89 percent Wednesday morning as investors reacted to a disappointing business confidence survey that showed Japanese firms are increasingly pessimistic about a rebound in the world number three economy.

The Nikkei 225 index at the Tokyo STOCK EXCHANGE slipped 171.36 points to 19,035.63 by the break, while the broader Topix index of all first-section shares gave up 1.08 percent, or 16.74 points, to 1,526.37.

Shortly before markets opened, the Bank of Japan s quarterly Tankan survey showed confidence among large manufacturers stood at plus 12 in March, flat from the previous report and missing expectations that it would come in at 14.

The survey of more than 10,000 companies — which shows the difference between the percentage of firms that are optimistic and those that see conditions as unfavourable — is the most comprehensive indicator of how Japan Inc. is faring.