Nikkei sheds 1.5% as nervous investors await US jobs

US jobs data could give clues as to when Fed will start its tapering

Japan's Nikkei shed 1.5% on Thursday, extending the previous session's worst one-day drop in six weeks, as investors stayed cautious ahead of Friday's US jobs report that could give more clues as to when the Federal Reserve will cut its stimulus.

The Nikkei ended down 230.45 points at 15,177.49. The index shed 2.2% in the previous session, pulling away from Tuesday's six-year closing high.

Still, the benchmark Nikkei is up 46% this year, powered by Japan's bold fiscal and monetary stimulus. If the gains were to hold for the rest of the year, it would mark the best yearly performance since 1972 for the Nikkei.

 

The broader Topix index closed 0.9% lower to 1,229.65 on Thursday, with 2.47 billion shares changing hands, down from Wednesday's 2.54 billion and Tuesday's 2.69 billion.