Nikkei slumps as soft industrial ouput data, Fed rate view sour mood

domingo 30 de agosto de 2015 22:12 GYT

* For the month, Nikkei is down 8.2 pct

* Suzuki bucks weakness after saying buying VW shares

* Fujitsu outperforms after brokerage rating hike

By Ayai Tomisawa

TOKYO, Aug 31 (Reuters) - Japanese stocks skidded on Monday morning, hurt by soft domestic industrial output data and concerns the U.S. Federal Reserve might yet raise interest rates next month even as anxiety over a China-led global economic slowdown persists.

The Nikkei fell 1.5 percent to 18,859.02 in midmorning trade, snapping a three-day winning streak. For the month, the benchmark has dropped 8.2 percent so far and is poised for its biggest monthly decline since Jan. 2014.

For the week, analysts said that the Nikkei may hover around the 19,000-mark depending on how global data, and financial markets performance, play out.

Investors are keenly awaiting the Caixin/Markit China Manufacturing Purchasing Managers' Index (PMI) and U.S. manufacturing data due out on Tuesday. This will be followd by Friday's crucial U.S. jobs data.

Earlier on Monday, data showed Japan's industrial output unexpectedly fell 0.6 percent in July, in a sign that weak overseas demand and high inventories are weighing on production.   Continuación...