Nikkei slides 3.3 pct as Ukraine, China anxiety sees biggest weekly drop in 9 months

Fri Mar 14, 2014 2:29am EDT

TOKYO, March 14 (Reuters) - Japanese stocks tumbled 3.3
percent to a one-month low on Friday, suffering their biggest
weekly drop in nine months as concerns over Ukraine and slowing
growth in China hurt risk-appetite and drove a safety-bid
towards the yen. 
    The Nikkei share average ended 488.32 points lower at 
14,327.66, the weakest closing point since Feb. 14. For the
week, the index dropped 6.2 percent, the biggest weekly drop
since last June.
    Nikkei futures and options contracts expiring in March
settled at 14,429.87, said the Osaka Securities Exchange after
the market closed.
    Traders said investors remained risk-averse amid the
backdrop of troubles in Ukraine and soft data in China, with 
exporters faltering after the dollar gave up about 0.2 percent
on Friday at 101.70 yen, moving close to a more than
one-week trough of 101.54 yen hit on Thursday. 
    The Topix dropped 3.2 percent to 1,164.70, with all
of its 33 subsectors in negative territory.
    The JPX-Nikkei Index 400, a gauge comprising
firms with high return on equity and strong corporate
governance, dropped 3.2 percent to 10,537.14.