Nikkei drops on weak Wall St; investors risk-averse as sterling off session high



Oct 12 Japanese stocks dropped on Wednesday, retreating from a five-week high after Wall Street was hit by weak corporate earnings overnight and as investors braced for the reporting season.
As the sterling came off its session high in Asian afternoon trade, investors have become risk-averse, which triggered selling in stock futures and widened earlier drops in stocks, traders said.
The benchmark Nikkei share average fell 1.1 percent to 16,840.00, retreating from a five-week closing high in the previous session.
The broader Topix shed 1.0 percent to 1,342.35 and the JPX-Nikkei Index 400... read more

 
12 October 2016 in World News, Views: 33
Source: Reuters
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