Nikkei edges down in choppy trade as dollar off its highs; Tepco dives

domingo 16 de octubre de 2016 22:08 GYT
 

* Tepco 3rd biggest pct loser on the board

* Dollar-yen dips below 104 yen in Asian trade

By Ayai Tomisawa

TOKYO, Oct 17 (Reuters) - Japan's Nikkei share average edged down in choppy trade on Monday morning as the dollar is off its highs against the yen, while Tokyo Electric Power stumbled after an anti-nuclear candidate won a Japanese regional election.

The overall market's mood had been supported by a dollar being above 104.00 yen since Friday when upbeat U.S. retail sales data reinforced expectations for a December interest rate hike by the Federal Reserve.

But the greenback dipped below the 104.00 level during Asian trade.

The Nikkei fell 0.1 percent to 16,844.51 in midmorning trade after trading in positive territory earlier.

"Investors' risk stances have improved since the upbeat U.S. data, so unless the dollar falls against the yen further, the market should not fall sharply," said Takuya Takahashi, a strategist at Daiwa Securities.

Tokyo Electric Power Company Holdings dived 8 percent and was the third biggest percentage loser on the board, making the utility sector the worst performer.   Continuación...