Nikkei retreats on Cyprus worries, caps biggest weekly loss since November

Fri Mar 22, 2013 2:34am EDT

TOKYO, March 22 (Reuters) - Japan's Nikkei average shed 2.4
percent on Friday, as concerns mounted that Cyprus may be forced
to exit the euro zone after the European Union gave the island
till Monday to raise the billions of euros it needs to secure a
bailout.
    The Nikkei ended 297.16 points lower at 12,338.53,
retreating from 12,650.26 hit on Thursday, the highest intraday
level since early September 2008.
    The benchmark lost 1.8 percent this week, its second weekly
loss out of the past 19 weeks and marked the biggest weekly
decline since November.     
    The broader Topix dropped 1.9 percent to 1,038.57 in
a relatively light trade.
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