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Nikkei falls sharply as Italy election spooks investors

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Reuters Delhi, India

TOKYO (Reuters) - Japan's Nikkei share average fell sharply at the open on Tuesday, retreating from a 53-month high as the yen strengthened on uncertainty following the Italian elections, with shares of some big exporters to Europe tumbling.

The Nikkei <.N225> dropped 2.4 percent to 11,379.92, and the broader Topix <.TOPX> shed 1.9 percent to 962.53.

On Monday, the Nikkei had risen 2.4 percent to 11,662.52, its highest level since late September 2008.

(Reporting by Ayai Tomisawa; Editing by John Mair)

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First Published: Feb 26 2013 | 6:04 AM IST

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