Nikkei dips, exporters hurt by yen and economy worry

Tue Aug 11, 2009 8:10pm EDT
 
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TOKYO, Aug 12 (Reuters) - Japan's Nikkei stock average lost 0.8 percent on Wednesday, tracking falls in U.S. shares on resurgent worries about the strength of a U.S. economic recovery, with Canon Inc (7751.T) and other exporters hit by a stronger yen.

But Sapporo Holdings (2501.T) jumped 2.8 percent to 579 yen after the Nikkei business daily said the company will buy a 20 percent stake in drinksmaker Pokka Corporation as part of a three-way tie-up with Meiji Holdings (2269.T). The benchmark Nikkei .N225 shed 82.31 points to 10,503.15 after posting a 10-month closing high of 10,585.46 on Tuesday. The broader Topix fell 0.9 percent to 964.41. (Reporting by Elaine Lies; Editing by Edwina Gibbs)

 

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