Nikkei falls on stronger yen, caution ahead of U.S. jobs data
By Joshua Hunt
TOKYO, March 30 (Reuters) - Japanese stocks fell on Wednesday as the yen strengthened against the dollar after U.S. Federal Reserve Chair Janet Yellen called for caution on raising interest rates, with the stronger yen weighing on Japan's exporters.
Market players said appetite for riskier assets was further diminished by investor caution ahead of U.S. jobs data scheduled to be released on Friday.
The Nikkei share average fell 1.3 percent to 16,878.96 for its lowest close in nearly two weeks.
Shares of Takata Corp plunged 19.5 percent after Bloomberg News reported the company's worst-case scenario for its recall could involve 287.5 million potentially defective air bag inflators.
The Topix subindex for marine transportation shed 4 percent as shares of Japan's shipping companies were heavily sold throughout the afternoon session.
The broader Topix fell 1.6 percent to end the day at 1,356.29 with each of its 33 subindexes in negative territory.
The JPX-Nikkei Index 400 declined 1.6 percent to 12,249.67. (Reporting by Joshua Hunt; Editing by Sam Holmes)
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