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Nikkei down 1.3 pct, exporters lead fall on yen

Mon Aug 25, 2008 10:06pm EDT

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(Updates to midday)

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TOKYO, Aug 26 (Reuters) - The Nikkei average fell 1.3 percent on Tuesday, led lower by exporters such as Canon Inc (7751.T) on a stronger yen and a sharp drop on Wall Street.

In a broad sell-off, banks were among the hardest hit, with No.1 lender Mitsubishi UFJ Financial Group (8306.T) down more than 3 percent, following falls of U.S. financial shares on credit concerns.

The benchmark Nikkei .N225 ended the morning down 169.14 points at 12,709.52. The broader Topix lost 1.7 percent to 1,218.04.

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