Nikkei drops to 2-month low on global growth concerns, oil shares tumble
TOKYO, Oct 10 (Reuters) - Japan's Nikkei share average fell for a fourth straight day on Friday, hitting a two-month low on concern about the global economy, and falling crude oil prices hurt oil shares. The Nikkei share average ended 1.2 percent down at 15,300.55, the lowest closing since Aug. 13. For the week, the benchmark dropped 2.6 percent. Japanese markets are closed on Monday for a national holiday. Oil shares underperformed, with Inpex Corp falling 4.9 percent, while Japan Petroleum Exploration Co fell 1.8 percent after Brent crude futures tumbled nearly $2 to below $89 a barrel on Friday, trading at their weakest since 2010. Bucking the overall trend, Fast Retailing Co, which operates Uniqlo clothing stores, rose 1.7 percent after it said it expects operating profit to grow by more than one-third in the year ahead. The broader Topix fell 1.4 percent to 1,243.09, and the JPX-Nikkei Index 400 declined 1.4 percent to 11,306.62. (Reporting by Ayai Tomisawa; Editing by Richard Borsuk)
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