Nikkei slips to 2-week low on strong yen and oil price drop
TOKYO, Dec 11 (Reuters) - Japanese stocks sagged to a 2-week low on Thursday, as a stronger yen, falling oil prices and downbeat machinery data dampened risk appetite. In its third consecutive day of losses, the Nikkei average fell 0.9 percent to 17,257.40, its lowest since Nov. 27. In volatile trade ahead of Nikkei futures and options contracts settling on Friday, the benchmark recovered from a trough of 17,043.63 in the morning session. Shares in major exporters sensitive to fluctuations in the yen slipped, with Panasonic Corp shedding 1.8 percent and Toyota Motor Corp down 0.6 percent. The broader Topix fell 0.7 percent to 1,397.04. The JPX-Nikkei Index 400 also slipped 0.7 percent to 12,672.68. (Reporting by Thomas Wilson; Editing by Jacqueline Wong)
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