Japan injects 1.2 trillion as Nikkei falls 5.4%
The Bank of Japan lent 1.2 trillion ($10.5 billion) to the markets Friday after draining 2 trillion Wednesday. The central bank's injection was made as market concerns over liquidity took the overnight lending rate above the central bank's 0.5% target.
The Nikkei, Japan's main stock exchange, fell by 874.81 points, 5.42% of the bourse's total value, Friday as investors became more concerned about the global impact of the US subprime crisis.
But, in contrast to the move by the Federal Reserve
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