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Nikkei drops, consumer finance firms lose ground

Written by: Staff

TOKYO, July 6 (Reuters) The Nikkei average fell 1.30 percent on Thursday as investors sold Advantest Corp. and other technology stocks amid growing concerns about further rate hikes in the United States, Japan's major trade partner.

Credit Saison Co. Ltd. and other consumer finance firms tumbled after a government advisory group recommended slashing the maximum interest rate they can charge to borrowers.

Analysts said the impact of North Korea's missile tests appeared to be limited as none of the missiles travelled as far as Japan.

The Nikkei lost 202.54 points to 15,321.40, extending its fall to a second session. The TOPIX index was down 1.11 percent at 1,572.29.


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