Nikkei drops for 2nd day as U.S. government shutdown drags on

Reuters

TOKYO, Oct 3 (Reuters) - Japan's Nikkei stock average

dropped for a second day on Thursday as investors fretted about

the U.S. government shutdown and agenda for raising the debt

ceiling.

The Nikkei shed 0.1 percent to 14,157.25, staying

below its 25-day moving average of 14,242.79 as well as

14,193.99, a 50 percent retracement of its May high to its low

in June. The Topix fell 0.1 percent to 1,173.99.

But SoftBank Corp climbed 4 percent to a new 13-1/2

year high, overtaking Mitsubishi UFJ Financial Group Inc

to become the company with the second-largest market

capitalisation among the Nikkei components.

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