Nikkei Declines in Low Volume, Tokyo Tatemono Gains

Hiruki Nakamura
16 Aug, 2013
New York City

Stocks in Tokyo closed lower trimmed the weekly gain. Trading on exchanges declined near the low of the year and the yen was stable. Investors sold across Asia and adjusted to a growing possibility of earlier than expected stimulus tapering in the U.S.

[R]4:30 PM Tokyo – Stocks in Tokyo closed lower trimmed the weekly gain. Trading on exchanges declined near the low of the year and the yen was stable. Investors sold across Asia and adjusted to a growing possibility of earlier than expected stimulus tapering in the U.S.[/R]

The Nikkei 225 Stock Average slid 102.83 or 0.8% to 13,650.11 and the Topix fell 9.17 to 1,142.65. For the week, Nikkei 225 rose 0.3%.

The yen edged up to 97.33 against one dollar.

Stocks in Review

Toyota Motor Corp fell 20 yen to 6,290 yen and Honda Motor Co. slid 20 yen to 3,790 yen. Nissan Motor Co Ltd slipped 4 yen to 1,035 yen.

Sony decreased 5 yen to 1,963 yen and Canon Inc dropped 45 yen to 3,070 yen. Nikon slid 20 yen to 1,700 yen.

Fanuc Corp fell 70 yen to 15,020 yen and Softbank Corp declined 70 yen to 6,170 yen.

Seven & I Holdings Co slumped 45 yen to 3,575 yen and Fast Retailing Co. slipped 100 to 32,000 yen.

Mitsubishi UFJ Financial Group slid 8 yen to 597 yen and Sumitomo Mitsui Financial Group dropped 55 yen to 4,485 yen.

J. Front Retailing Co., Ltd declined 2.7% to 724 yen after the consumer products retailer reported sales in July dropped 1.6% in July and sales from Parco Business declined 3.7%.

Tokyo Tatemono Co., Ltd jumped 2.7% to 846 yen after the real estate group estimated operating profit in fiscal 2014 may climbed by 10 billion yen.