Tokyo: Stocks close down 1.4% at five-month low

[Tokyo] Tokyo stocks fell 1.40 per cent to close at a fresh five-month low on Friday, hit by a stronger yen and growing concerns about the global economy.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange lost 205.87 points to 14,532.51, its worst finish since late May.

The index has lost more than 10 per cent from its seven-year high of 16,374.14 hit just three weeks ago, suggesting the market is now in a correction phase.

The broader Topix index of all first-section issues was 1.53 per cent, or 18.28 points, lower at 1,177.22. AFP