Nikkei hits 5-wk closing low as yen jumps on China news

TOKYO, Jan 26 (BestGrowthStock) – Japan’s Nikkei average fell 1.8
percent to a five-week closing low on Tuesday, with exporters
hurt as the yen rose broadly after China implemented a previously
ordered increase in reserve requirements for some banks.

The benchmark Nikkei (.N225: ) shed 187.41 points to 10,325.28,
its lowest finish since Dec. 21.

The broader Topix (.TOPX: ) lost 2 percent to 916.40.

China’s move was the latest measure by its authorities to
rein in lending and head off inflation, plans for which have
rattled investors around the world on worries the global economy
is not ready for less stimulus. [ID:nBJD003445] [.SSEC]

China’s key stock index (.SSEC: ) fell more than 2 percent, led
by banks, accelerating its recent fall after the news.

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(Reporting by Aiko Hayashi)

Nikkei hits 5-wk closing low as yen jumps on China news