Nikkei falls over 3 pct to 7-week low

The Nikkei average fell more than 3 per cent to hit its lowest in seven weeks on Friday,with exporters hurt by a stronger yen,while escalating sovereign debt problems in Europe dented investor confidence in riskier assets including equities.

The benchmark Nikkei slid 3.1 per cent to 10,039.66,after falling as low as 10,036.33,its lowest since December 18.

The broader Topix declined 2.4 per cent to 888.94.

Mitsui & Co and other resource-linked shares took a beating after a key commodities index saw its biggest daily loss in almost six months on Thursday,hit by a 5 per cent fall in crude oil and a steep fall in gold.