September 28, 2016 / 6:16 AM / a year ago

Nikkei falls on strong yen trend, ex-div adjustment

TOKYO, Sept 28 (Reuters) - Japan’s Nikkei share average fell on Wednesday, pressured by the yen’s recent strength as well as ex-dividend share price adjustments.

The Nikkei dropped 1.3 percent, or 218.53 points, to end at 16,465.40. The ex-dividend price adjustment trimmed the Nikkei by about 115-120 points, according to market participants.

While the dollar firmed slightly against the yen on Wednesday, it was not far above a one-month low hit overnight.

Traders said financial sector sentiment was also hit by concerns over Deutsche Bank, with investors worried about the impact of a $14 billion fine.

The broader Topix dropped 1.4 percent to 1,330.77 and the JPX-Nikkei Index 400 fell 1.5 percent to 11,907.79.

Reporting by Tokyo markets team; Editing by Jacqueline Wong

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