Nikkei slides 2.1 pct to 3-week low after BOJ quells stimulus hopes

Wed Apr 9, 2014 2:27am EDT

TOKYO, April 9 (Reuters) - Japanese stocks stumbled 2.1
percent to a three-week low on Wednesday after the Bank of Japan
Governor Haruhiko Kuroda raised doubts over whether the central
bank will ease its policy stance anytime soon, sending the yen
higher.
    The benchmark Nikkei extended its losing streak to a
fourth day to close at 14,299.69, dropping 307.19 points in the
biggest fall since March 14. The index shed more than 5 percent
in the last four sessions and down 12.2 percent this year. 
    The slide was triggered after Kuroda on Tuesday offered few
signs the central bank was ready to launch additional stimulus
in the short term. 
    Real estate and financial plays, which have benefited from
the government's reflationary policy, as well as
currency-sensitive exporters experienced a broad sell-off, with
all of the Topix's 33 sectors sinking.
    The broader Topix fell 2.1 percent to 1,150.44 in
moderate trade, with 2.33 billion shares changing hands.
    The JPX-Nikkei Index 400, a recently introduced
gauge comprised of companies with a high return on equity and
robust corporate governance, dropped 2 percent to 10,467.88.

 (Reporting by Tomo Uetake; Editing by Shri Navaratnam)
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