Global investors has been cautiously waiting for the first U.S. presidential debate to unfold between Hillary Clinton and Donald Trump. This morning Japan’s Nikkei share average dropped to a 7-1/2-week low after U.S. shares fell. The Nikkei fell 1.5% to 16,299.84 in early trade, after hitting as low as 16,285.41, the lowest level since Aug. 5. But it had cut losses, only declined 0.27% at 9.47 am Jakarta time. A rally in Asian stocks after the U.S. decided to keep interest rates unchanged and the Bank of Japan tinkered with its monetary stimulus fizzled out today as investors scaled back bets and sought safe havens, spurring bond gains, Bloomberg reported.

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