Nikkei down amid concerns about global economic advance

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Source: Dukascopy Bank SA
Japanese equities retreated on Tuesday amid fears that the global economic growth may slow down. At the same time, the weaker Yen made export-oriented companies to advance. The Nikkei 225 Index lost 0.4%, or 54.22 points, to 13,221.44. Among the best performers, Credit Saison Co Ltd climbed 6.2% to 2,724 yen, capping further losses in the financial sector. Shionogi & Co Ltd, a Japanese pharmaceutical company, advanced 5.5% to 2,147 yen. Additionally, Matsui Securities Co Ltd jumped 3.6% to 1,150 yen. On the downside, Softbank Corp plunged 6.8% to 4,365 yen, after U.S. based Dish Network Corp offered the better acquisition price for Sprint Nextel Corp, a telecommunications company. The American company can pay $25.5 billion, more than $20.1 billion that Softbank Corp offered. Mitsui Engineering & Shipbuilding Co Ltd sank 5% to 171 yen, declining the most in industrials sector. The Shizuoka Bank Ltd followed with a 5% slip to close at 1,089 yen.
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