Nikkei closes at 15-mth low below 9,000; eyes on yen

TOKYO, Aug 24 (BestGrowthStock) – Japan’s Nikkei average hit a
15-month closing low below 9,000 points on Tuesday, with hedge
funds and foreigners selling amid mounting concern about the
authorities’ inaction on a strong yen, which threatens a fragile
economic recovery.

Market players said a close below the keenly-watched 9,000
level would likely feed downward momentum, with few technical
targets to break the benchmark’s fall.

The Nikkei (.N225: ) lost 1.3 percent or 121.55 points to
8,995.15, its lowest close since May 2009. The broader Topix
(.TOPX: ) shed 0.9 percent to 817.73.
(Reporting by Elaine Lies)

Nikkei closes at 15-mth low below 9,000; eyes on yen