Japanese stocks stay moderate

Japanese stocks fell moderately Wednesday as investors remained cautious despite Wall Street's overnight rebound from a global market selloff triggered by a drop in Chinese shares.

The Nikkei 225 stock index lost 150.61 points, or 0.86 percent, to finish at 17,453.51 points on the Tokyo Stock Exchange. On Wednesday, the Nikkei plunged 515.80 points, or 2.85 percent - the index's biggest point fall since June 13, 2006.

Traders said though U.S. stocks bounced back overnight, players in Tokyo remain cautious for some time to see Wall Street's direction.

On Wednesday, the Dow rose ended the day up 52.39 points, or 0.43 percent, at 12,268.63 after the previous day's 416-point drop amid concerns about slower growth and over-inflated stock prices.

By mid-Thursday, stocks in China fell modestly, hit by profit-taking and weak performances in other main markets following the plunge Tuesday that rattled markets worldwide, the AP says.

Japan's broader Topix index, which includes all shares on the exchange's first section, fell 12.63 points, or 0.72 percent, to 1,740.11.

In currencies, the U.S. dollar was trading at 118.32 yen at 2:50 p.m. (0550 GMT) Thursday, down from 118.43 yen late Wednesday in New York. The euro fell to US$1.3222, from US$1.3232.

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