Nikkei slips on Wall St drop, investors wary before Yellen remarks

miércoles 24 de agosto de 2016 22:41 GYT

* Nikkei has traded in narrow range over the past week

* Yellen comments expected to move market - analysts

* Weak oil prices pull down mining stocks

By Ayai Tomisawa

TOKYO, Aug 25 (Reuters) - Japanese stocks edged down on Thursday as appetite for risk was checked by weakness on Wall Street and caution ahead of a speech by Federal Reserve Chair Janet Yellen on Friday, an event global markets hope will provide clues on the outlook for U.S. rates.

The benchmark Nikkei shed 0.2 percent to 16,562.49 in midmorning trade.

Fed officials including Vice Chair Stanley Fischer and New York Fed President William Dudley have expressed upbeat views on the economy in the past week, indicating a rate increase this year is likely and could come as soon as the September meeting.

Investors are now looking to Yellen's speech in Jackson Hole, Wyoming, on Friday for insight on the U.S. monetary policy outlook.

The Nikkei benchmark index has traded in a narrow 16,452.01-16,714.61 range over the past week, and could move back toward the 16,500-level depending on Yellen's remarks, traders say.   Continuación...