Nikkei drops 1.4% on Asian markets' weakness

The benchmark Nikkei dropped 200.63 points to 14,109.34 after rising as high as 14,497.65 in early trade

Reuters Tokyo
Last Updated : Jul 08 2013 | 2:52 PM IST

 

Japan's Nikkei share average fell 1.4% on Monday after hitting a six-week high as sharp declines in Asian markets tempered optimism stemming from strong US data and a weaker yen, while S&P's downgrade on SoftBank Corp's debt rating to "junk" status increased a negative mood.
 
The benchmark Nikkei dropped 200.63 points to 14,109.34 after rising as high as 14,497.65 in early trade, a level not seen since May 29, on the back of upbeat US jobs data suggesting the world's largest economy was on a solid footing.
 
The broader Topix index dropped 1.4% to 1,172.58.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 08 2013 | 2:16 PM IST

Next Story