Nikkei logs biggest one-day fall in 6 weeks as Abe stimulus fails to wow

Reuters

TOKYO, Oct 2 (Reuters) - Japan's Nikkei average suffered the

biggest one-day loss in six weeks on Wednesday, having failed to

maintain earlier gains in a choppy session, after Prime Minister

Shinzo Abe's stimulus package unveiled the previous day offered

little impetus for fresh buying.

Although global shares rose modestly on hopes that the U.S.

government shutdown may not last long, many investors remain

cautious with no clear solution in sight for the more important

agenda of raising the federal debt ceiling by mid-October.

The Nikkei closed down 2.2 percent at 14,170.49, its

lowest closing level in 3-1/2 weeks, after trading as high as

14,569.20 during the session. The benchmark is still up 36

percent this year, underpinned by the government's aggressive

fiscal and monetary stimulus steps.

The broader Topix dropped 1.5 percent to 1,175.16 in

relatively subdued trade, with 2.90 billion shares changing

hands.

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