Nikkei slips on weak economic data, posts big monthly gain
TOKYO, Sept 30 (Reuters) - Japanese stocks fell to a one-week low on Tuesday as a one-two punch of weak economic data and a profit warning from Sumitomo Corp knocked out sentiment - but for the month the Nikkei posted its biggest gain since last November. The Nikkei share average fell 0.8 percent to 16,173.52, the lowest closing level since Sept. 24. For the month, the benchmark rose 4.9 percent helped by the weakening yen and building momentum in the U.S. economy. It was the biggest monthly rise since last November. Sumitomo Corp nosedived 12 percent after it slashed its annual profit forecast by 96 percent due to losses on a U.S. shale project and sharp declines in iron ore and coal prices. Sumitomo's woes weighed on other trading houses and steelmakers. The broader Topix fell 0.8 percent to 1,326.29, and the JPX-Nikkei Index 400 slid 0.9 percent to 12,055.67, with pro-democracy protests in Hong Kong also denting risk appetite. (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam and Eric Meijer)
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