Nikkei falls as weak capex data sours mood; China keeps investors on edge

lunes 31 de agosto de 2015 22:17 GYT

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By Ayai Tomisawa

TOKYO, Sept 1 (Reuters) - Japan's Nikkei share average fell on Tuesday as weak corporate activity soured sentiment, while data from China suggested its economy was losing further momentum.

The Nikkei dropped 2.3 percent to 18,458.52 points by mid-morning, with a technical support level seen at its 260-day moving average of 18,282.

Thirty of Topix's 33 subsectors were in negative territory, with cyclical shares leading the declines.

Japanese corporate capital expenditure increased 5.6 percent in April-June from a year ago, slowing from the previous quarter and adding to signs of an economy struggling to recover from a slump.

"This is depressing because we are talking about a period before worries about a China-led slowdown in the global economy hit," said Hikaru Sato, senior technical analyst at Daiwa Securities. "For this quarter and beyond, China's cooling demand could hit our economy so it's not looking good."   Continuación...