Nikkei falls to more than 1-week low on strong yen

miércoles 17 de agosto de 2016 22:28 GYT
 

* Expectations for BOJ's ETF buying limits drops - traders

* Strong yen worries continue in market - traders

By Ayai Tomisawa

TOKYO, Aug 18 (Reuters) - Japan's Nikkei share average dropped to its lowest in more than a week on Thursday morning as the strong yen dragged down exporter shares and soured sentiment in the broader market.

The Nikkei dropped 0.5 percent to 16,665.00 in mid-morning trade after falling to as low as 16,560.20 earlier, the lowest since August 8.

Exporters lost ground after the yen firmed 0.4 percent to 99.87 yen per dollar, coming within sight of its seven-week peak of 99.55 to the dollar set on Tuesday.

Nissan Motor Co shed 1.4 percent and Toyota Motor Corp dropped 0.6 percent.

"A risk for an even stronger yen remains in the market and investors are being sensitive," said global market strategist at JPMorgan Asset Management.

He added that expectations for the Bank of Japan's exchange traded funds (ETF) buying may help limit the drop in the market, but new buying by investors should be subdued for a while.   Continuación...