Nikkei drops on China worries; Topix volume hits lowest since mid-Dec
cnbc.com -- Jun 24
Japan's Nikkei share average fell on Monday in choppy trade as worries about Chinese economic and financial stability soured investor sentiment, dragging down China-related stocks such as construction equipment makers and some exporters.

The benchmark Nikkei, which climbed as much as 1.5 percent early in the session, ended the day down 1.3 percent at 13,062.78.

Of 33 Topix subsectors, 25 were lower, with China-related stocks have the largest declines. The Nikkei China 50 index fell 1.9 percent.

Komatsu Ltd dropped 4.6 percent and Hitachi Construction Machinery Co by 3.7 percent. Fanuc Corp skidded 2.3 percent and Nissan Motor Co slid 3.4 percent.

Early on Monday, the Nikkei rose, supported by a weak yen. But a sell-off in other Asian markets, which were in oversold territory, erased the gains.

China bank shares led the downward spiral after official news reports at the weekend suggested Beijing would continue to keep monetary policy tight.

Source: cnbc.com
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