Japanese
stocks tumbled, after the Nikkei 225 Stock Average posted an historic
rally on Wednesday, as U.S. data bolstered the case for a Federal
Reserve interest-rate increase.
The
Nikkei 225 sank 1.9 percent to 18,419.80 as of 9:01 a.m. in Tokyo,
after soaring 7.7 percent on Wednesday, its eighth largest one-day
advance. The Topix index declined 1.9 percent to 1,478.82, with all of
its 33 industry groups falling. The yen strengthened for the first time
in four days, trading at 120.24 per dollar. U.S. stocks dropped after a
report showed job openings in July rose more than forecast, indicating
the labor market is tightening and providing more evidence for the Fed
to raise rates next week.
Source: Bloomberg
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