Nikkei lower after drop in oil prices

<p>Japanese stocks went down following a decline in crude oil prices.</p>

The Nikkei went down today (October 23rd) after a fall in Wall Street shares and a decline in crude oil prices.

US shares went down yesterday after oil prices fell sharply, pressured by data that showed a second big jump in weekly US crude stockpiles, as well as a rising US dollar and falling equity markets, Reuters report. 

Investors were also concerned about manufacturing data from China and Europe.

China’s PMI rose to 50.4 from 50.2 in September, beating analysts’ expectations for 49.9, according to securities industry officials.

"China's growth rate is dropping, and investors are really worried at how far it might fall," Makoto Kikuchi, chief executive officer at Myojo Asset Management in Tokyo, told Reuters.

The Nikkei 225 average lost 56.81 points to end at 15,138.96. The Topix finished 4.07 points lower at 1,232.34.

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