Toyota shares awash with sell orders on profit shock

Shares in Toyota Motor Corp were untraded among a flurry of sell-orders down 13 percent on Friday, at their maximum daily fall, after shocking investors with a warning that profits this year would hit a 13-year low.
 
At 0156 GMT, Toyota was untraded with sell orders at 3,310 yen, after falling 16.5 percent on Wall Street amid big problems for American automakers who are lobbying for government assistance as sales slide.
 
In Tokyo, Toyota shares fell 10 percent on Thursday ahead of the profit warning after a newspaper reported that its operating profit could fall below 1 trillion yen ($10 billion) in the year to March 2009, less than half the profit seen last year.
 
But the damage was much greater, with Toyota announcing after the Tokyo market close that it expected an annual operating profit of 600 billion yen -- the lowest since 1995/96 and down 60 percent from its previous forecast.
 
The Nikkei average fell 6.8 percent, while the transport sector subindex declined 12.6 percent. ($1=97.71 Yen)

Address: Bibo Road, Zhangjiang High-technology Park, Shanghai, China
Tel: 0086-21-3637-6177
Fax: 0086-21-3637-6177
Skype: eastfilters