Nikkei drops to 6-week low on Wall Street fall, China worries

jueves 20 de agosto de 2015 22:20 GYT
 

* Nikkei down for 4 straight days, has fallen 4.6 pct this week

* Exporters with high foreign ownership underperform

* Apple-related stocks fall

By Ayai Tomisawa

TOKYO, Aug 21 (Reuters) - Japan's Nikkei share average dropped more than 2 percent to six-week lows on Friday morning after Wall Street tumbled as investors unloaded risky assets, hit by concerns that a slowdown in China could affect the global economy.

The Nikkei share average fell 2.2 percent to 19,594.13 in midmorning trade, the lowest level since July 9. The index has fallen for a fourth day, and for the week, shedding 4.6 percent so far.

"Due to uncertainly about where China's economy is going, what Beijing will do (in terms of monetary policy) and how much the impact it will have on the global market, anything related to China worries is sold," said Takuya Takahashi, a strategist at Daiwa Securities.

Stocks related to Apple Inc, such as component suppliers, tumbled after the stock fell 2 percent overnight on a report that said overall smartphone sales in China fell in the second quarter.

Alps Electric Co dropped 6.1 percent, Nitto Denko Corp shed 3.1 percent while TDK Corp declined 2.6 percent.   Continuación...