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Tokyo nikkei 20 yr low { April 11 2003 }

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Tokyo's Nikkei ends at 20-yr low, blue chips hit
Fri April 11, 2003 02:09 AM ET
(Updates to close)
TOKYO, April 11 (Reuters) - Japanese stocks thudded to a 20-year closing low on Friday, with Toyota Motor Corp 7203.T and other blue chips slammed on concerns over pension fund selling and sluggish demand in the global economy.

Auto giant Toyota, top retailer Ito-Yokado Co Ltd 8264.T and other issues that have a relatively high weighting in corporate pension funds were among the biggest losers.

The Nikkei average .N225 slid 2.05 percent to 7,816.49, falling below the previous two-decade closing low of 7,862.43. The broader TOPIX index .TOPX fell 1.28 percent to 782.25.

Toyota shed 3.85 percent to a seven-year low of 2,500 yen. Ito-Yokado tumbled 8.13 percent to 2,940 yen, its lowest close since November 1987.

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