Heavy loss to scholarship Tokyo

- The stock market in Japan posted a heavy loss Friday at the start of a new quarter. Sentiment in Tokyo was under pressure by negative reports about the Japanese industry. Also in China stock markets were down after lowering the outlook for China's credit rating by rating agency Standard amp; Poor's (S amp; P).

Investors in Tokyo were processing the so-called Tankan report. It showed that the confidence of major Japanese industrial companies has dropped to its lowest level in nearly three years, partly because of the stronger yen threatens to exert pressure on profitability. The companies plan to reduce their investments.