2016.09.3002:54:00UTC+00Nikkei Index Edges Down on Deepening Concerns over Deutsche

The Nikkei share average lost 1.6% or 258.10 points at 16, 435.61 on Friday, as anxiety over Deutsche Bank's financial wellness jolted Wall Street indexes and weighed down financial shares.

The Japanese stock index also headed for weekly and monthly losses, falling 1.9% for the week and 2.6% for the month of September. Still, the Nikkei is up 5.5% for the third quarter.

Wall Street suffered declines on Thursday, led by Deutsche Bank's U.S.-listed stocks which lost 6.7% as increasing worries regarding the financial strength of the German lender cast a shadow over global markets.

The drop in bank and financial stocks has weighed on the overall market sentiment. The banking subindex and securities subindex lost 1.9% and 1.8% respectively. The subindex of other financials was shed 2.6% while the insurance subindex slid 2.3%.