TOKYO, Aug 20: Japan’s Nikkei average tumbled on Tuesday as concerns about the U.S. Federal Reserve’s plans to reduce its stimulus hammered companies heavily exposed to emerging markets such as Suzuki Motor Corp and Hino Motors Corp.
The benchmark Nikkei fell 2.6 percent to 13,396.38, the biggest drop in two weeks, with traders citing an unwinding of hedge funds’ cash positions in emerging markets as well as other risky assets such as Nikkei futures. The index touched 13,383.18, the lowest since June 28.
The broader Topix shed 2.1 percent to 1,125.27. (AGENCIES)
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