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Nikkei falls to 1-1/2-week low

Tuesday, August 05 09:36:06

Japan's Nikkei share average fell to a 1-1/2-week low on Tuesday, extending its declines into a fourth day after a survey showed China's services sector growth fell to a record low. The market also looked for more earnings cues from Japanese companies such as Toyota Motor Corp. The Nikkei dropped 1.0 percent to close at 15,320.31, the lowest closing level since July 24.

The broader Topix fell 1.0 percent to 1,263.53, and the JPX-Nikkei Index 400 dropped 1.0 percent to 11,499.49.

China services purchasing managers' index (PMI) compiled by HSBC/Markit fell to 50.0 in July from a 15-month high of 53.1 in June. It was the lowest reading since November 2005 when the data collection began. China is a major export market for Japanese manufacturers. (Reuters)

For more visit: www.businessworld.ie