Wednesday 9/5 Tokyo trading recap:
* Nikkei 225 Stock Average: -262.02 (-1.6%) to 16,158.45, losing streak extended to third session, N225 falls back to levels before Friday’s 410+ point gain
* Nikkei 225 futures Osaka: -210 (-1.3%) to 16,190, Singapore (SGX) -1% to 16,220, Chicago (CME) *9/4 — +0.9% to 16,550
* TOPIX: -27.27 (-1.7%) to 1,569.47; Advancers 161 x decliners 1,509 (unch. 55), New highs 5 x new lows 92, all 33 sectors posted declines
* Jasdaq: -7.70 (-0.4%) to 1,899.58
* Bloomberg has good coverage of Wednesday’s Japanese real estate related stocks action. Takeo Higuchi, chairman of Daiwa House Industry Co. scared the market when he said in an interview Japan’s real estate “bubble” may burst — he said the property market has “become dangerous.” TOPIX real estate shares fell 4.2%. Bank stocks fell as investors had more reason to worry about subprime issues when Yoshimi Watanabe, head of the Financial Services Agency, said, “I’ll be watching carefully when banks report for a clearer view of losses related to the subprime problem.”