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Nikkei lower on China trade disruption
Friday, September 28 07:15:03
Japan's Nikkei average hit a two-week closing low today as concerns about falling revenues for Japanese companies in China outweighed market optimism over Spain's new economic reform plans and a tough budget focused on spending cuts.
The Nikkei ended down 0.9 percent at 8,870.16, with losses widened in the afternoon as traders said stop-loss selling had been triggered after Nikkei futures broke below 8,900.
The benchmark lost 1.5 percent in July-September, its second straight quarterly loss after suffering a 10.7 percent drop in the April-June period. However, it is still up 4.9 percent this year. The broader Topix index lost 1.1 percent to 737.42. ( C) Reuters
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