Nikkei slips 1.1 pct on European debt worries, Mizuho

TOKYO, May 11 (BestGrowthStock) – Japan’s Nikkei average slipped 1.1
percent on Tuesday, as euphoria over a $1 trillion package to
prevent the spread of Europe’s debt crisis dissipated and as
Mizuho Financial (8411.T: ) fell on news of a big share offering.

Sumitomo Mitsui Financial Group (8316.T: ) also tumbled as its
affiliate consumer lender Promise (8574.T: ) slid after a loss
warning and after a report that SMFG was set to raise its share
offer limit.

The benchmark Nikkei (.N225: ) fell 119.60 points to 10,411.10,
after earlier rising as much as 1.1 percent to 10,643.28.

The news of the European rescue package came during trading
hours in Tokyo on Monday, helping the Nikkei to close up 1.6
percent.

The broader Topix (.TOPX: ) fell 1.3 percent to 932.10.

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(Reporting by Aiko Hayashi)

Nikkei slips 1.1 pct on European debt worries, Mizuho