September 14, 2016 / 6:31 AM / 2 years ago

Nikkei slips as banks drop on BOJ negative rate worries; Topix falls for 6th day

TOKYO, Sept 14 (Reuters) - Japan’s Nikkei share average slipped to a 2-1/2-week closing low on Wednesday, dragged down by weaker bank stocks amid heightened speculation that the Bank of Japan will cut interest rates deeper into negative territory.

The Nikkei dropped 0.7 percent to 16,614.24, the lowest closing level since Aug. 26.

The broader Topix fell 0.6 percent to 1,314.74, its sixth straight session of declines, the longest losing streak since late April. The JPX-Nikkei Index 400 slipped 0.6 percent to 11,802.24.

The BOJ plans to make negative interest rates the centrepiece of future monetary easing as expansions to its already massive asset buying near their limits, the Nikkei newspaper reported on Wednesday. (Reporting by Ayai Tomisawa; Editing by Subhranshu Sahu)

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