Nikkei falls, weak machinery data raises doubts about economy

miércoles 9 de septiembre de 2015 22:58 GYT

* Weak machinery data raises concerns about economy

* Short-sell ratio drops below 40 for 1st time in 7 days

* Drop in Apple triggers selling in its Japanese suppliers

By Ayai Tomisawa

TOKYO, Sept 10 (Reuters) - Japan's Nikkei share average fell on Thursday as a surprise drop in machinery data heightened concerns about the economy, further spooking investors who rushed to book profits a day after the market posted its biggest one-day gain in nearly seven years.

The Nikkei dropped 2.7 percent to 18,267.44 in mid-morning trade after hitting as low as 17,956.15, just one percent above the seven-month low reached on Tuesday.

The index had jumped 7.7 percent on Wednesday as investors took advantage of the drop in the previous session which wiped off year-to-date gains.

"The market still expects companies to post double-digit gains, but the momentum of the Japanese economy is worse than initially expected," said Kazuhiro Miyake, chief strategist at Daiwa Securities.

Japanese machinery orders unexpectedly fell for a second straight month in July, fuelling concerns that weak business investment could undermine a recovery from an economic contraction in the second quarter.   Continuación...