Sept 7 (Reuters) - Japanese stocks fell on Wednesday, as lingering investor concerns over an economic slowdown overshadowed strong performances by exporter shares which gained on a weaker yen.
Japan's Nikkei share average dropped 0.71%, tracking overnight losses on Wall Street, where all three major indexes fell as a U.S. services industry report underscored expectations the Federal Reserve will maintain its aggressive rate-hike stance.
The Nikkei fell as far as 27,268.70 in early trading, its lowest level since July 19, before closing at 27,430.30.
The broader Topix index lost 0.57%.
"There's a connection between strong U.S. economic data and fears of an acceleration in monetary tightening," said a market participant at a domestic securities firm.
Of the Nikkei's 225 constituents, 165 dropped, 56 posted gains and four traded flat.
Tech stocks dragged the index lower, with chipmaker Tokyo Electron and SoftBank Group Corp having the biggest negative impact.
Marine transportation and logistics company Nippon Yusen KK made the biggest individual loss, down 7.92%. Industry peers Mitsui O.S.K. Lines Ltd and Kawasaki Kishen Kaisha Ltd lost 7.01% and 6.18%, respectively.
Some Nikkei constituents made gains after the Japanese yen fell to a 24-year low of 144.380 to the dollar, which boosts overseas revenue for exporters.
Automakers were the best performers. Mitsubishi Motors Corp gained 3.61%, Subaru Corp added 3.37%, while Mazda Motor Corp climbed 2.45%.
Uniqlo parent Fast Retailing Co Ltd had the strongest positive impact on the Nikkei, gaining 0.86%.
Video game company Nintendo Co Ltd, which makes much of its profits from high-margin software sales abroad, was the biggest contributor in the morning session but pared gains to close up 1.09%. (Reporting by Sam Byford and Tokyo markets team; Editing by Krishna Chandra Eluri)
