Nikkei hits 1-week low; precision equipment makers underperform

  • Reuters
  • Stock Market News
Nikkei hits 1-week low; precision equipment makers underperform

TOKYO, March 1 (Reuters) - Japan's Nikkei share average fellto a one-week low on Thursday morning, with precision machinerymakers hit by the euro's weakness against the yen and mostsectors in negative territory.

The Nikkei .N225 dropped 1.7 percent to 21,684.72 inmid-morning trade, its lowest since Feb. 22.

The broader Topix .TOPX declined 1.6 percent to 1,739.62.

Investors were worried about the yen's strength against theeuro, adding to overall risk aversion.

The euro dropped to 129.86 yen EURJPY= , its weakest levelsince early September after benign inflation data in the eurozone dented expectations that the European Central Bank willdial back its stimulus.

Precision equipment makers Omron Corp 6645.T and TerumoCorp 4543.T , which have a relatively big exposure in Europe,fell 2.8 percent and 3.0 percent respectively.

Other exporters were also sold down, with Toyota Motor 7203.T shedding 1.9 percent and Honda Motor 7267.T falling1.1 percent.

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