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Nikkei down 1.5 pct, exporters sold on stronger yen

Mon Jun 2, 2008 10:07pm EDT

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(Updates to midday)

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TOKYO, June 3 (Reuters) - Japan's Nikkei stock average dropped 1.5 percent on Tuesday, with exporters like Honda Motor Co Ltd (7267.T) sliding on a stronger yen and overnight losses on Wall Street.

Financial shares such as top lender Mitsubishi UFJ Financial Group (8306.T) fell after their U.S. peers tumbled on a credit ratings agency downgrade, raising new fears over the impact of the credit crunch.

The benchmark Nikkei average .N225 ended the morning down 218.35 points at 14,221.79. The broader Topix index lost 1.2 percent to 1,408.33. (Reporting by Taiga Uranaka)

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