Nikkei slips 1.6 percent, eyes on election and China
TOKYO |
TOKYO Aug 27 (Reuters) - Japan's Nikkei stock average fell on profit-taking on Thursday after hitting a 10-month closing high the day before, pressured by a stronger yen and falls in Chinese shares, with market participants wary ahead of Sunday's election.
Exporters such as Canon Inc (7751.T) lost ground, while Nippon Steel Corp (5401.T) and other steelmakers slid after China said it would curb overcapacity. [ID:nPEK157466]
The benchmark Nikkei .N225 lost 1.6 percent or 165.74 points to 10,473.97, while the broader Topix .TOPX shed 1.2 percent to 964.23. (Reporting by Elaine Lies)
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