REFILE-Nikkei drops on fears government will proceed with sales tax hike

domingo 22 de mayo de 2016 23:47 GYT

(Refiling to correct Inpex's company code)

* All of Topix's 33 subsectors in negative territory

* Oil shares underperform after oil prices fall

By Ayai Tomisawa

TOKYO, May 23 (Reuters) - Japan's Nikkei share average fell on Monday on fears that the government will raise the sales tax next April, risking a further blow to the sluggish economy.

The Nikkei dropped 1.2 percent to 16,539.98 points, after falling to as low as 16,417.84, the lowest since May 16.

All of the Topix's 33 subsectors were in negative territory.

Investors' attention has been on the G7 finance leaders' meeting in Sendai, northeastern Japan, where the finance leaders discussed such topics as currencies and fiscal policies over the weekend.

Media such as the Nikkei business daily and the Asahi Shimbun reported that Japanese Finance Minister Taro Aso on Saturday told U.S. Treasury Secretary Jack Lew that Japan will raise the sales tax as planned.   Continuación...