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Nikkei falls to 1-1/2-week low as Softbank slides, financials drag
March 21, 2017 / 6:18 AM / 8 months ago

Nikkei falls to 1-1/2-week low as Softbank slides, financials drag

TOKYO, March 21 (Reuters) - Japan’s Nikkei share average fell to a 1-1/2-week low on Tuesday as financial stocks underperformed after U.S. yields fell, while index-heavyweight SoftBank tumbled.

The Nikkei dropped 0.3 percent to 19,455.88, the lowest closing level since March 9.

SoftBank Group Corp dropped 1.9 percent and contributed a hefty negative 18 points to the Nikkei index after the Wall Street Journal reported that the company scrapped a planned $100 million investment in a smartphone startup founded by the creator of Google’s Android software, citing people familiar with the matter.

The broader Topix dropped 0.2 percent to 1,563.42 and the JPX-Nikkei Index 400 shed 0.2 percent to 13,987.00.

Reporting by Ayai Tomisawa

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