Nikkei drifts down but pares losses, above 7-mth low

TOKYO, July 7 (BestGrowthStock) – Japan’s Nikkei average fell 0.6
percent on Wednesday as shares of exporters that rose the day
before gave back some gains, but the index remained above a
seven-month low hit on Tuesday.

Heightened fears about a slowdown in the U.S. economy after
jobs data last week have exacerbated a bearish trend since April
but market players said support at a key retracement level around
9,200 is expected to hold for now.

The benchmark Nikkei (.N225: ) lost 58.39 points to 9,279.65,
paring earlier losses that at one point took it down by more than
1 percent. The broader Topix (.TOPX: ) shed 0.7 percent to 841.51.

Nikkei drifts down but pares losses, above 7-mth low