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Nikkei lower on China and results
Friday, August 31 07:22:33
Japan's Nikkei average fell to a four-week closing low today as resources-related shares remained under pressure on concern over China's growth, while Sharp Corp sank on uncertainty over a tie-up with Taiwan's Hon Hai Precision Industry.
Expectations of further stimulus steps from the U.S. Federal Reserve that investors hoped might bolster the slowing global economy also faded, as the Nikkei shed 1.6 percent to 8,839.91. The index was still up 1.7 percent this month to log its best August performance since 2006.
The broader Topix fell 1.6 percent to 731.64, while Sharp tumbled 12.8 percent, its biggest one-day percentage fall since Aug. 3. ( C) Reuters
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