Tokyo: Nikkei falls on strong yen trend

[TOKYO] Japan's Nikkei share average fell on Wednesday, pressured by the yen's recent strength as well as ex-dividend share price adjustments.

The Nikkei dropped 1.3 per cent, or 218.53 points, to end at 16,465.40.

The ex-dividend price adjustment trimmed the Nikkei by about 115-120 points, according to market participants.

While the dollar firmed slightly against the yen on Wednesday, it was not far above a one-month low hit overnight.

Traders said financial sector sentiment was also hit by concerns over Deutsche Bank, with investors worried about the impact of a US$14 billion fine.

The broader Topix dropped 1.4 per cent to 1,330.77 and the JPX-Nikkei Index 400 fell 1.5 per cent to 11,907.79.

REUTERS