Nikkei drops 2.6% as China demand worries weigh on metal shares

Investors lock in profits after recent rally

Japan's Nikkei share average fell to a one-week low on Wednesday as investors locked in profits after a recent rally and as caution over Chinese demand continued to hurt such commodity-related shares such as mining and metal companies.

The Nikkei ended 2.6% lower at 14,830.39 points, the lowest closing level since March 4, and the biggest daily drop in more than a month. It had hit a five-week high of 15,312.60 last Friday.

The broader Topix index shed 2.1% to 1,206.94, with all of its 33 subindexes in negative territory.

The JPX-Nikkei Index 400, a gauge comprising firms with high return on equity and strong corporate governance, dropped 2.2% to 10,917.03.