Nikkei falls as US budget concerns push yen higher

Japan’s Nikkei share average extended the previous session’s losses on Wednesday, retreating further from this week’s seven-month high as investors sold exporters on concerns over the US budget tangle, which lent strength to the yen.

US legislators continue to negotiate a deal to avoid a US$600 billion package of tax hikes and federal spending cuts that would begin on January 1 and could push the economy into recession.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1097932/nikkei-falls-us-budget-concerns-push-yen-higher