Japanese markets fall slightly after inflation data

Japanese markets fell slightly in choppy trade as the yen held steady after slipping to a near three-week low against the dollar on Tuesday amid signs the Bank of Japan is nor hurrying to raise interest rates further.

The Nikkei average slid 0.19 percent to 37,870.26 while the broader Topix index settled 0.23 percent lower at 2,650.50.

Data showed earlier in the day that a leading indicator of Japan's service-sector inflation held steady at 2.7 percent in August.

Producer prices in Japan were up 2.7 percent on year in August, the Bank of Japan said on Wednesday - unchanged from the July reading following an upward revision from 2.6 percent.

 

On a monthly basis, producer prices rose 0.1 percent, easing from 0.3 percent in the previous month.

Excluding international transportation, producer prices were also up 0.1 percent on month and 2.7 percent on year.

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