Nikkei drops most in 6 weeks as U.S. political concerns bite

Mon Sep 30, 2013 2:26am EDT

TOKYO, Sept 30 (Reuters) - Japan's Nikkei stock average
logged its biggest drop in six weeks on Monday as investors went
into risk-off mode and took profits on recent gainers amid
growing concerns over a possible U.S. government shutdown.
    The benchmark Nikkei shed 2.1 percent to 14,455.80,
its biggest one-day fall since Aug. 20. But the index rose 8
percent this month, posting its first monthly gain in five, and
is up 39 percent this year.
    The broader Topix dropped 1.9 percent to 1,194.10.
Trading volume was at a three-week low, with 2.70 billion shares
changing hands.
    Market participants were also awaiting an announcement by
Prime Minister Shinzo Abe on the government's economic growth
and tax strategy on Tuesday.
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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