Japan shares plunge to 4-month low on BOJ inaction, Brexit fears

jueves 16 de junio de 2016 02:56 GYT

* Nikkei falls more than 3 pct for 6th time this quarter

* Real estate companies worst hit, exporters battered

* Yen stronger than most exporters' assumed FX rate

* Mothers market plunges 7 pct as investors lock in gains

By Hideyuki Sano

TOKYO, June 16 (Reuters) - Japanese share prices tumbled to four-month lows on Thursday, as the Bank of Japan's inaction, a cautious Fed that fuels the yen's strength and worries over Britain's possible departure from Europe all made for reasons to sell.

The Nikkei average fell 3.1 percent to 15,434.14, its lowest level since mid-April. It is the sixth time it fell more than 3 percent this quarter. Until mid-2015, a fall of over 3 percent was rare.

The broader Topix fell 2.8 percent to 1,241.56, its lowest level since mid-February.

"Fears are gripping fund managers. They are now reducing stocks and increasing cash to protect their funds," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.   Continuación...