TOKYO, Aug 16 (Reuters) - Japan's Nikkei index slipped on
Tuesday, dragged by energy-related stocks and shippers, as
worries about economic slowdown in the United States and China
By 0143 GMT, the Nikkei share average was down 0.17%
at 28,823.61, retreating from a seven-month high scaled in the
previous session. The broader Topix fell 0.37% to
"The market rallied in the past (few) sessions but sentiment
has been weakened by concerns about economic slowdown," said
Shuji Hosoi, senior strategist at Daiwa Securities.
China's central bank on Monday cut lending rates to revive
demand as data showed the economy slowing unexpectedly in July,
with factory and retail activity squeezed by Beijing's
zero-COVID policy and a property crisis.
In Japan, oil explorers fell 1.94% and refiners
lost 1.84% after oil prices dropped on demand
concerns in China one of the largest importers of crude.
Shipping firms fell 3.8% and led declines among
the Tokyo Stock Exchange's 33 industry sub-indexes.
Kawasaki Kisen Kaisha lost 4.4% to become the
largest loser on the Nikkei, followed by Mitsui O.S.K. Lines
, which dropped 3.98% and Nippon Yusen,
JAFCO Group, however, jumped 11.24% after a
prominent activist investor "hinted" they could buy a majority
stake in the major Japanese venture capital firm.
There were 68 advancers on the Nikkei index against 153
The volume of shares traded on the Tokyo Stock Exchange's
main board was 0.46 billion, compared with the average of 1.17
billion in the past 30 days.
(Reporting by Junko Fujita; editing by Uttaresh.V)