|Published : 21 Mar 2017, 11:23:25|
Nikkei share slips to 1-1/2-week low
Japan's Nikkei share average slipped to a 1-1/2-week low on Tuesday as financial stocks were battered after US yields fell, while index-heavyweight SoftBank tumbled and weighed on the index.
The Nikkei dropped 0.5 per cent to 19,432.71 in midmorning trade after a public holiday on Monday. Earlier, it hit as low as 19,337.22, the lowest level since March 9.
SoftBank Group Corp dropped 2.2 per cent and contributed a hefty negative 21 points to the Nikkei index.
Insurers Dai-ichi Life Holdings stumbled 1.9 per cent and Sompo Holdings fell 1.4 per cent. Mitsubishi UFJ Financial Group slipped 1.8 per cent.
Exporters were mixed, trimming earlier declines after the dollar rose against the yen during Asian trade.
Toyota Motor Corp was down 0.1 per cent, Nissan Motor Co gained 0.5 per cent and Panasonic Corp shed 0.3 per cent.
The broader Topix dropped 0.2 per cent to 1,563.28 and the JPX-Nikkei Index 400 shed 0.2 per cent to 13,986.79, according to Reuters.