Japanese
stocks fell after the yen rallied and equities plunged in New York as a
report showing U.S. manufacturing grew at the slowest pace in two years
added to concern about a global economic slowdown.
The
Topix slipped 1.8 percent to 1,451.76 as of 9:01 a.m. in Tokyo, falling
for a third day as all of its 33 industry groups dropped. The Nikkei
225 Stock Average retreated 1.7 percent to 18,859.51. The yen traded at
119.80 per dollar after strengthening 1.6 percent on Tuesday, the
biggest rally in a week. Growth in U.S. factory output is slowing and
China’s official manufacturing gauge slumped to the lowest in three
years, reports showed.
Investors
in Japan have turned the most bearish on equities in almost seven
years. Short-selling accounted for 41 percent of trading on the Tokyo
Stock Exchange on Tuesday, the highest ratio since the bourse began
keeping daily records in 2008.
Futures
on the Standard & Poor’s 500 Index added 0.2 percent after the
underlying measure lost 3 percent on Tuesday, its third-biggest loss of
2015.
Source: Bloomberg
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