Thursday, June 9, 2011

Nikkei falls but cheap valuation, BOJ buying hopes support

TOKYO: The Nikkei stock average fell on Thursday on growing worries over a slowing U.S. economy though hopes of buying by the Bank of Japan and cheap valuations helped keep it above an important support level.

The benchmark Nikkei dropped 0.5 percent to 9,405.61, but it still kept some distance above its March 29 intraday low of 9,317, while the broader Topix was down 0.5 percent at 810.36. ' Reuters

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