Nikkei drops 3.6 pct, yen worry hits investor confidence

by mani on September 1, 2010

Aug 31 (Reuters) – Tokyo stocks fell 3.6 percent on Tuesday, their worst daily drop in three months, after the Bank of Japan’s emergency moves the day before failed to curb the yen’s strength and disheartened investors bailed out of the market.

The benchmark Nikkei .N225 shed 325.20 points to 8,824.06, booking its biggest daily percentage fall since a 3.8 percent slide in early June. For the month of August, it fell 7.5 percent, its worst month since May.

The broader Topix .TOPX lost 3 percent to 804.67. (Reporting by Aiko Hayashi; Editing by Edwina Gibbs)

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