Japan shares close lower

Japanese stocks fell on Wednesday as continued investor fears about an economic slowdown outweighed the strong performance of exporters’ shares, which rose on the yen’s fall.

The Nikkei index fell 0.71 percent, tracking losses overnight on Wall Street, as the three major indexes fell after the US services sector report confirmed expectations that the Federal Reserve would maintain its stance on raising interest rates.

The Nikkei index fell 27,268.70 points in early trading, its lowest level since July 19, before closing at 27,430.30 points.

The broader Topix index lost 0.57 percent.

Of the 225 stocks listed on the Nikkei index, 165 stocks declined, 56 stocks gained, and four settled unchanged.

Technology stocks caused the index to fall, with chipmaker Tokyo Electron and SoftBank Group having the biggest negative impact.

Some index shares gained after the Japanese yen fell to a 24-year low of 144.380 against the dollar, boosting exporters’ overseas earnings.

Car manufacturers were the best performers, as Mitsubishi shares rose 3.61 percent, Subaru 3.37% and Mazda Motor 2.45 percent.