Nikkei hits 1-month low as chip sector tumbles; strong yen dents confidence [Reuters]
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Source: Reuters
Nikkei hits 1-month low as chip sector tumbles; strong yen dents confidence | Reuters Reuters Staff 3 Min Read * Strong yen dents risk sentiment * Nikkei falls 1 pct over week * Little cheer from strong Q2 GDP By Ayai Tomisawa TOKYO, Aug 10 (Reuters) - Japan’s Nikkei fell to a one-month low on Friday as semiconductor-related shares tumbled after Morgan Stanley downgraded its view on the U.S. chip sector, which offset any boost from Japan’s better-than-expected economic growth. The Nikkei share average ended 1.3 percent lower at 22,298.08, the lowest closing level since July 12. For the week, it dropped 1 percent. In late trade, selling in stocks accelerated after the yen rose against the dollar as investors became risk averse. The Turkish lira hit an all-time low of 5.75 on Friday after a meeting the day before between a Turkish delegation and U.S. officials in Washington yielded no apparent solution to a diplomatic rift over the detention in Turkey of a U.S. pastor. The dollar dipped
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