Nikkei falls 0.6 pct as GDP data hits exporters

TOKYO, Aug 16 (BestGrowthStock) – Japan’s Nikkei average fell 0.6
percent on Monday after data showed Japan’s economy slowed
sharply in April-June from the previous two quarters as export
growth moderated and a stimulus-driven recovery in consumption
ran out of steam.

But losses were limited after support for the benchmark held
last week at just over 9,000, while charts showed it approaching
oversold levels, suggesting it was perhaps due for a bit of a
rebound.

The benchmark Nikkei (.N225: ) shed 56.79 points to 9,196.67,
its lowest finish since July 1. It pared losses that at one point
took it down nearly 2 percent to 9,095.94, within sight of the
13-month low of 9,065.94 hit last week.

The broader Topix (.TOPX: ) inched down 0.3 percent to 828.63.
(Reporting by Aiko Hayashi; Editing by Joseph Radford)

Nikkei falls 0.6 pct as GDP data hits exporters