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Tokyo's Nikkei index down more than 3% in late trade

Published on Jan 14, 2014 1:24 PM

TOKYO (AFP) - Tokyo stocks tumbled more than 3 per cent on Tuesday afternoon, hit by a stronger yen and tracking heavy losses on Wall Street after weaker-than-expected US jobs data.

The benchmark Nikkei-225 index fell 3.22 per cent, or 512.90 points, to 15,399.16 by 2pm.

On Friday, the United States Labour Department said the world's biggest economy added a mere 74,000 jobs in December, well below the consensus estimate of 197,000. The news fuelled speculation the Federal Reserve will delay a further reduction in its stimulus programme, a negative for the dollar.

Japan's markets were closed on Monday for a national holiday.

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