August 20, 2013 / 6:26 AM / 4 years ago

Nikkei tumbles to 7-week low on Fed uncertainty, emerging mkt fears

TOKYO, Aug 20 (Reuters) - Japan's Nikkei average tumbled on
Tuesday as concerns about the U.S. Federal Reserve's plans to
reduce its stimulus hammered companies heavily exposed to
emerging markets such as Suzuki Motor Corp and Hino
Motors Corp.
    The benchmark Nikkei fell 2.6 percent to 13,396.38,
the biggest drop in two weeks, with traders citing an unwinding
of hedge funds' cash positions in emerging markets as well as
other risky assets such as Nikkei futures. The index touched
13,383.18, the lowest since June 28.
    The broader Topix shed 2.1 percent to 1,125.27.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below