Nikkei closes 89.12 points down on Ebola scare

Japanese share market closed down after wiping out early gains on Monday, 29 December 2014, as risk aversion selloff flared in afternoon trade on reports a man is being tested for deadly Ebola virus in Tokyo. The Nikkei Stock Average declined 89.12 points, or 0.5%, to 17729.84. Tokyo shares opened firmly higher, inspired by last week's strong Wall Street performance. The Tokyo market also reacted positively to the Cabinet's passage of almost $30 billion in stimulus. The package includes measures to bolster smaller businesses hurt by the falling yen snd public works projects for rebuilding disaster-hit areas. But, market backpedalled in afternoon trading, erasing more than what accumulated during morning session, after the health ministry announced a suspected case of the deadly Ebola virus.

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