Japanese shares fall

Published Apr 19, 2012

Share

Japanese shares declined Thursday after overnight losses on Wall Street and European markets and as investors sold stocks to lock in quick profits after recent gains.

The benchmark Nikkei 225 Stock Average lost 78.88 points, or 0.82 per cent, to end at 9,588.38 after surging 2.14 per cent Wednesday.

The broader Topix index was down 5.14 points, or 0.63 per cent, at 814.13.

Investors were cautious ahead of a Spain bond auction later in the day.

The Dow Jones Industrial Average was down 0.63 per cent Wednesday as sales at technology firms Intel Corp and IBM Corp fell below analysts' expectations.

Japan's exports rose 5.9 per cent from a year earlier for the first increase in six months in March to 6.2 trillion yen (76.26 billion dollars) as more vehicles and car parts were shipped, the Finance Ministry said.

But the rise in exports was outstripped by imports, which climbed 10.5 per cent to 6.29 trillion yen, driven by demand for fuel for thermal power generation after nuclear reactors were suspended across the country following the Fukushima atomic accident a year ago, the ministry said.

As a result, the country posted a trade deficit of 82.6 billion yen, the first in two months.

On currency markets at 3 pm (08:00 SA time), the dollar traded at 81.49-50 yen, up from Wednesday's 5 pm quote of 81.31-33 yen.

The euro was quoted at 106.87-89 yen, up from 106.61-65 yen late Wednesday, and at 1.3114-3118 dollars, little changed from 1.3111-3113 dollars. - Sapa-dpa

Related Topics: