Nikkei tumbles on global demand concerns; Recruit shines on debut

miércoles 15 de octubre de 2014 22:27 GYT
 

* Nikkei stays below 200-day moving average

* Japan market may be pushed down on yen move for now - trader

* Recruit attracts buying, rises above IPO price

By Ayai Tomisawa

TOKYO, Oct 16 (Reuters) - Japan's Nikkei share average tumbled 2.5 percent to a 4-1/2-month low on Thursday after Wall Street dived on deepening worries about weak global demand, while a stronger yen dragged down exporters such as Toyota Motor Corp.

The Nikkei was down 374.90 points at 14,698.62 by mid-morning after falling to as low as 14,672.55 earlier, its lowest since May 30.

The benchmark has stayed below its 200-day moving average for the third consecutive day.

"It's clear that people are avoiding risks," said Takatoshi Itoshima, chief portfolio manager at Commons Asset Management, adding that investors started to doubt whether U.S. economic recovery was strong enough to sustain the Japanese stock market.

The U.S. economy has been a relatively bright spot in the otherwise darkening global economic picture, and investors have rushed into dollars as a result.   Continuación...