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Nikkei drops to 4-month low on strong yen triggered by weak U.S. data
February 4, 2014 / 6:20 AM / 4 years ago

Nikkei drops to 4-month low on strong yen triggered by weak U.S. data

TOKYO, Feb 4 (Reuters) - Japan's Nikkei stock average fell
4.2 percent to a four-month low on Tuesday, as the yen's rise
hurt sentiment after weaker-than-expected American factory data
created worries about the U.S. economy.
   The benchmark Nikkei, extending its losing streak to
a fourth day, ended 610.66 points lower at 14,008.47, the lowest
closing since Oct. 8. It was the biggest one-day percentage
decline since June 2013.
   The Nikkei fell decisively below its 200-day moving average,
around 14,425, for the first time since November 2012 when the
market started rallying on expectations of radical monetary
   The broader Topix index tumbled 4.8 percent to
1,139.27, with 4.233 billion shares changing hands, the highest
since June 2013.
    The JPX-Nikkei Index 400, an index launched this
year comprised of firms with high return on equity and strong
corporate governance, shed 4.7 percent to 10,330.02.

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