Japan Markets Fall Sharply, Hit Three-Week Low

Japanese markets fell sharply to hit a three-week low as chip-related stocks such as Shin-Etsu Chemical, Tokyo Electron and Advantest tumbled 2-4 percent.

The Nikkei average dropped 1.16 percent to 39,599, extending losses for a fourth straight session. The broader Topix index settled 1.16 percent lower at 2,827.53.

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