TOKYO - Japanese manufacturers turned slightly less confident about business conditions in August and the service sector's mood eased, the monthly Reuters Tankan survey found on Wednesday, as lacklustre demand from China weighed on corporate sentiment.
Manufacturers expect the index to decline further to plus five over the next three months, the survey showed. The Reuters poll was conducted from July 31 to Aug. 9, during which Japanese stocks plunged in their biggest single-day rout since 1987's Black Monday selloff, after weak U.S. labour data raised recession fears, and the yen surged against the dollar as investors unwound the carry trade.
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