The Financial Express

Nikkei share slips below 25-day average

| Updated: December 08, 2017 11:34:24

Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Reuters) File Photo (Reuters)

Japan’s Nikkei share average slipped on Wednesday, falling below its 25-day moving average almost for the first time since September, as materials, shippers and other cyclical shares came under pressure.

The Nikkei fell 0.7 per cent to 22,456.11, slipping further from Friday’s three-week peak of 22,994.31 and below its 25-day average of 22,525 as of Wednesday, reports Reuters.

Non-ferrous metals producers were the biggest losers, falling 1.8 per cent after the price of copper dropped more than 4.0 per cent on Tuesday, its biggest daily fall in almost 2 1/2 years.

Sumitomo Metal Mining fell 2.3 per cent. Shippers fell 1.5 per cent and steelmakers shed 1.2 per cent.

Recently-battered technology shares were mixed. Silicon wafer manufacturer Sumco gained 2.1 per cent but Panasonic fell 1.0 per cent to hit a two-month low.

The broader Topix fell 0.4 per cent.

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