Nikkei hits 3-week low on China concerns, weak Wall St; SoftBank soars

miércoles 19 de agosto de 2015 22:48 GYT
 

* Nikkei may test 20,000 - traders

* China volatility remains a concern - traders

* Steelmakers underperform after report saying agreeing to price cut with Toyota

By Ayai Tomisawa

TOKYO, Aug 20 (Reuters) - Japanese stocks fell for a third day to a three-week low on Thursday morning on worries about China's economy and Wall Street weakness, but SoftBank Group Corp soared on news its president will buy the company's shares.

SoftBank jumped 3 percent and was the most traded stock by turnover after President Nikesh Arora said he is buying about 60 billion yen ($483 million) worth of the company's shares over the next six months.

The Nikkei share average dropped 0.7 percent to 20,083.47 in midmorning trade, the lowest level since July 28.

U.S. stocks fell as minutes from the U.S. Federal Reserve's July meeting highlighted concerns over the state of the global economy and dented expectations for a rate hike in mid-September.

Fears about China's economy and falling oil prices also kept investors on edge.   Continuación...