Nikkei dips as Japan focuses on weak U.S. data


20/07/2012 07:34 AST  Reuters

The Nikkei share average slipped on Friday as weak U.S. economic data raised concerns over the health of the world's largest economy and its impact on the export-reliant Japanese economy.

Japanese market players were more concerned over the soft U.S. data than Thursday's positive U.S. corporate earnings, which helped propel the S&P 500 index to a 2-1/2-month high.

"Toshiba was up 5 percent on the back of U.S. earnings but what else came out in the U.S. that has any real bearing on Japanese stocks?" a senior deal at a foreign brokerage said. "The bigger problem that you have got at the moment is the weak U.S. data that's coming out."

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