Friday, September 9, 2011

Nikkei edges down as Obama speech fails to impress

TOKYO: The Nikkei benchmark edged lower on Friday and is expected to stay in a narrow range as a keenly awaited speech from U.S. President Barack Obama was almost in line with market expectations.

Obama proposed a $447 billion jobs package on Thursday to help boost the U.S. economy, challenging Congress to pass legislation made up largely of tax cuts for workers and businesses.

The benchmark Nikkei shed 0.6 percent to 8,739.82, while the broader Topix index was down 0.3 percent at 755.33. ' Reuters

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