Nikkei extends morning losses as China skids, telecoms remain sold

lunes 14 de septiembre de 2015 00:56 GYT

TOKYO, Sept 14 (Reuters) - Japan's Nikkei share average extended its losses on Monday afternoon, falling as much as 1.7 percent as Chinese markets slid and telecommunication shares continued to be sold off after Prime Minister Abe called on cellphone companies to reduce rates.

The Nikkei share average fell 1.7 percent to 17,931.29 amid cautious afternoon trading.

Softbank Group Corp. shares fell 6.2 percent in afternoon trading while competitor KDDI Corp. fell 8 percent and NTT Docomo tumbled 9.2 percent.

Market players said investors remained cautious ahead of Bank of Japan and U.S. Federal Reserve policy meetings this week.

"Until we have some visibility on the rate environment expect the malaise in equity markets to continue," said Martin King, co-managing director at Tyton Capital Advisors in Tokyo.

The broader Topix shed 1.3 percent to 1,459.98 in early afternoon trading.

(Reporting by Joshua Hunt; Additional reporting by Ayai Tomisawa; Editing by Eric Meijer)