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Monday, 8th February 2010
In Business In Japan,

Japan stocks fall to two-month low

The value of Japanese stock fell to its lowest level for nearly two months today (February 8th).

The fall was down to a continued strong yen as well as concerns over the finances of a number of European nations.

Speaking to Dow Jones Newswires, senior strategist at Nikko Cordial Tsuyoshi Kawata said: "The market's biggest concern is the European fiscal situation and this problem won't be solved any time soon."

Japanese companies whose stock fell included electronics giant Sony, whose stocks fell 3.6 per cent. Panasonic also saw its stock value fall by 5.3 per cent.

Shares in Toyota also fell on the back of several high-profile recalls due to safety fears in a number of its models.

Several local reports in Japan suggest that the world's biggest car maker is set to announce further recalls on top of those carried out in Europe, South Africa, the US and South America.

Written by Mark Smith.