Nikkei posts biggest drop in a week as market shuns risk

Thu Feb 13, 2014 1:28am EST

TOKYO, Feb 13 (Reuters) - Japan's Nikkei average slid nearly
2 percent on Thursday, snapping a three-day winning streak, as
investors cautiously awaited U.S. economic data and sold shares
across the board.
    Notable losers were brewers Sapporo Holdings and
Asahi Group Holdings, which both fell more than 4
percent after the companies forecast 2014 operating profits that
missed analysts' expectations.
    The Nikkei ended 1.8 percent or 265.32 points lower
at 14,534.74, marking its biggest daily percentage drop in a
week. On Wednesday, it had notched a 1-1/2-week closing high.
    The broader Topix fell 1.6 percent to 1,199.74, with
all of its 33 subsectors in negative territory.
    Analysts said that investors were avoiding risks until they
see more U.S. economic data, such as retail sales figures due
out later today.
    The JPX-Nikkei Index 400, an index launched this
year comprised of firms with high return on equity and strong
corporate governance, slipped 1.5 percent to 10,848.10.
A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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