Nikkei falls for 6th day on strong yen, concerns on Ukraine
* Exporters weak hurt by strong yen * Declines limited as more people think strong yen was caused by fat-finger trade -analyst By Ayai Tomisawa TOKYO, Aug 7 (Reuters) - Japan's Nikkei share average edged down on Thursday morning in choppy trade, extending its declines into a sixth day as the strong yen dragged down exporters, while rising tensions in Ukraine dulled risk appetite. But losses were limited as investors started digesting that the dollar's sharp fall against the yen overnight could have been an accidental "fat-finger" trade. The Nikkei dropped 0.1 percent to 15,143.64 in mid-morning trade after falling to as low as 15,085.69, the lowest since June 30. It also briefly flirted with positive territory. "Investors seem to have reached a conclusion that it was a fat-finger trade, not a trade which accurately reflected its real level," said Takuya Takahashi, an analyst at Daiwa Securities. The dollar suddenly dropped as far as 101.76 yen before Asian market hours, from around 102.30 in a matter of a few minutes, prompting talk of a fat-finger trade, or a large order that created some indigestion. "The Japanese market may not fall seriously as it is also supported by buying of companies which reported strong results," Takahashi said. As of Aug 5, more than 150 of 200 companies selected by Daiwa Securities reported their April-June results, and their pretax profits rose 13 percent on-year, he said. Square Enix Holdings jumped 12 percent to 2,315 yen, the highest since March after it hiked its profit and sales forecasts form its April-September period. Renesas Electronics Corp soared 4.1 percent after its operating profit for the first quarter nearly tripled to 26.9 billion yen. Exporters weakened, with Sony Corp falling 1.4 percent, Panasonic Corp declining 0.9 percent and Nissan Motor Co dropping 0.8 percent. The broader Topix dropped 0.1 percent to 1,249.70, and the new JPX-Nikkei Index 400 fell 0.2 percent to 11,370.55. (Editing by Eric Meijer)
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