Japanese Nikkei tests six month low

Japanese markets fell notably as the yen touched a five-month high on growing fears over an economic downturn in the U.S.

The Nikkei average ended down 0.64 percent at 36,793.11 after hitting a six-month low earlier in the day. The broader Topix index settled 1.11 percent lower at 2,670.72.

Technology investor SoftBank Group fell 2.8 percent and lender Mizuho Financial Group lost 3.7 percent while chip testing equipment maker Advantest reversed losses to end 1.7 percent higher.

Japan's economy experienced slower growth than initially reported in the last quarter of the year, while household spending rose 0.8 percent in January from a year earlier, official data revealed today ahead of a BoJ policy meeting next week.

 

Japan's machine tool orders increased for the fifth straight month in February, though at a slower pace compared to the previous two months, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Tuesday.

Machine tool orders climbed 3.5 percent year-on-year in February, following a 4.7 percent rise in the previous month.

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