Nikkei drops to 6-1/2 week low on falling oil prices, global growth fears
TOKYO, Dec 16 (Reuters) - Japanese stocks slumped on Tuesday to 6-1/2 week lows as free-falling oil prices boosted demand for the safe haven yen and fears of weak worldwide growth dampened risk appetite. The Nikkei benchmark shed 2 percent to close at 16,755.32, its lowest closing level since the Bank of Japan shocked markets by unexpectedly easing policy further on Oct. 31 With global concerns pushing the safe haven yen to a four-week high, exporter stocks were pressured. Nikon Corp shed 2.9 percent, while Nissan Motor Co Ltd lost 2.6 percent. The broader Topix lost 1.9 percent to 1,353.37, with all its 33 sub sectors closing in the red. The JPX-Nikkei Index 400 also lost 1.9 percent to close at 12,277.41. (Reporting by Thomas Wilson; Editing by Anand Basu)
© Thomson Reuters 2017 All rights reserved.