Nikkei falls on China worries amid cautious, low volume trading
By Joshua Hunt
TOKYO, Sept 14 (Reuters) - Japanese stocks fell on Monday as Chinese markets slid on soft economic data and telecommunication shares were sold off after Prime Minister Abe called on cellphone companies to reduce rates.
The Nikkei share average lost 1.6 percent to close at 17,965.70 after a day of cautious trading. Trading volume was well below the 5 day average and the Nikkei volatility index remained high at 33.2.
Softbank Group Corp. shares fell 5.5 percent while competitor KDDI Corp. fell 8.6 percent and NTT Docomo tumbled 9.8 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 1.2 percent to close at 1,462.41. All but two of its 33 subindexes closed in the negative.
The JPX-Nikkei Index 400 lost 1.3 percent to 13,114.33.
(Reporting by Joshua Hunt; Additional reporting by Ayai Tomisawa; Editing by Eric Meijer)
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