Nikkei falls after China weakens yuan for second day

martes 11 de agosto de 2015 23:03 GYT
 

* China-related shares sold the most

* Exporters down as PBOC move intensifies global economic worries

* Japanese stocks seen supported by positive earnings

By Hideyuki Sano

TOKYO, Aug 12 (Reuters) - Japanese share prices slid on Tuesday after the Chinese central bank lowered the yuan for a second day, fanning more worries of slowing growth in China.

The Nikkei average fell 1.1 percent to 20,495.40, hitting its lowest level in more than a week, while the broader Topix fell 1.0 percent to 1,670.89.

The People's Bank of China set its guidance rate for the yuan 1.6 percent lower than previous close, a day after it drove it down nearly 2 percent.

"This seems to show just how much the Chinese authorities are concerned about slowdown in the Chinese economy," said Kei Okamura, assistant investment manager at Aberdeen Investment Management.

Steelmakers and other companies broadly exposed to China came under renewed pressure, reversing their outperformance on Tuesday.   Continuación...