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Nikkei drops 1.4% on Asian markets' weakness

The benchmark Nikkei dropped 200.63 points to 14,109.34 after rising as high as 14,497.65 in early trade

Reuters Tokyo

 

Japan's Nikkei share average fell 1.4% on Monday after hitting a six-week high as sharp declines in Asian markets tempered optimism stemming from strong US data and a weaker yen, while S&P's downgrade on SoftBank Corp's debt rating to "junk" status increased a negative mood.
 
The benchmark Nikkei dropped 200.63 points to 14,109.34 after rising as high as 14,497.65 in early trade, a level not seen since May 29, on the back of upbeat US jobs data suggesting the world's largest economy was on a solid footing.
 
The broader Topix index dropped 1.4% to 1,172.58.

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First Published: Jul 08 2013 | 2:16 PM IST

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