Japan’s Nikkei falls on Deutsche fears, financials down

Japan’s Nikkei fell Friday after fears about the stability Deutsche Bank shook Wall Street and took a toll on financial shares, with the stock index paring its quarterly gain and logging weekly and monthly losses.

The Nikkei ended down 1.5 percent, or 243.87 points, at 16,449.84, down 1.8 percent for the week and 2.6 percent for September. But it was still up 5.6 percent for the July-September quarter.

Wall Street indexes posted sharp declines on Thursday, with Deutsche Bank’s U.S.-listed stock skidding 6.7 percent as deepening concerns over the stability of the lender cast a cloud over markets around the world.

The banking subindex slipped 2.4 percent, while the subindex of other financials was down 2.5 percent.

The broader Topix finished 1.5 percent lower at 1,322.78, down 2 percent for the week and 0.5 for September, though up 6.2 for the quarter.

The JPX-Nikkei Index 400 slipped 1.5 percent to 11,846.49 on Friday, down 2.1 for the week and 1 percent for the month. It gained 5.3 in the July-September period.

Source: Reuters