Nikkei hits 7-mth low as stronger yen triggers futures selling

viernes 4 de septiembre de 2015 01:26 GYT

* Rising yen triggers futures selling by global macro investors - traders

* Nikkei has dropped for 4th week, fallen 6.7 pct for the week

* Nikkei's weekly drop likely be steepest since April 2014

By Ayai Tomisawa and Joshua Hunt

TOKYO, Sept 4 (Reuters) - Japanese stocks hit a fresh seven-month low on Friday afternoon as investors were seen selling futures as the yen rose further against the dollar, while investors stayed risk-averse before the release of a key U.S. jobs report later in the day.

The Nikkei dropped 2.5 percent to 17,737.01 in mid-afternoon trade after falling to as low as 17,608.17, its lowest level since Feb. 10.

For the week, the Nikkei has dropped 6.7 percent for the fourth successive week of declines, and is poised to post the biggest weekly drop since April 2014.

The dollar dropped to 119.10 yen in the afternoon, the lowest level since August 26.

A bounce in the yen against the euro and dollar triggered a sell-off in futures, presumably from such investors as global macro funds.   Continuación...