Tokyo stocks fall to 1-1/2-week low on worse-than-expected GDP [Reuters]
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Source: Reuters
Tokyo stocks fall to 1-1/2-week low on worse-than-expected GDP TOKYO, Feb 17 (Reuters) - Japanese shares slid to a 1-1/2-week low on Monday, hurt by a weaker-than-expected gross domestic product (GDP) reading for the December quarter, while worries about the economic impact of the coronavirus epidemic continued to weigh on the market. The Nikkei average fell 0.6% to 23,537.03 by the midday break, its lowest level since Feb. 5, while the broader Topix dropped 0.9% to 1,688.29, also a 1-1/2-week low. All but two of the 33 sector sub-indexes on the Tokyo Stock Exchange were trading lower, with air transport, sea transport and metal products being the worst three performers. Japan’s economy contracted at an annualised pace of 6.3% in October-December period, shrinking at the fastest pace in almost six years, government data showed, highlighting a fragile outlook made worse by growing coronavirus risks. Economists’ median estimate was for a 3.7% contraction. “We all knew that the figures w
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