TOKYO: Japanese stocks fell on Wednesday as sliding oil prices continued to cut risk appetites and offset Japan’s better-than-expected machinery orders data.
The Nikkei share average declined 1 percent to 19,301.07, its lowest closing since Nov. 6.
The Topix subindex for insurance shares shed 1.7 percent after Barclays cut its target price recommendation for a number of major insurance companies.
Dai-ichi Life Insurance Co Ltd shares slipped 3.4 percent after its target price was cut to 2,250 yen from 2,500 yen, while T&D Holdings Inc fell 2.6 percent after a reduction to 1,800 yen from 2,000 yen.
The broader Topix slipped 0.8 percent to end the day at 1,555.58 with all but five of its 33 subindexes down.
The JPX-Nikkei Index 400 fell 0.9 percent to 13,995.29.
