Japan’s Nikkei share average failed to maintain early gains on Wednesday, and hit a four-month low as investor sentiment remained shaky ahead of U.S. inflation data due later in the day.
Nikkei average initially tracked gains on Wall Street shares to rise 0.6 percent but it quickly lost steam, dropping as much as 0.9 percent to 21,061.85 in morning trade, below last week’s low of 21,078.71.
At the midday break, the Nikkei was at 21,109.29, off 0.64 percent for the day. The broader Topix dropped 0.7 percent to 1,704.47, slipping to its lowest levels since October, with small cap shares hit the most. The Topix Small dropped 1.2 percent.
Source : Reuters