Japanese shares snap yesterday's gains on strengthening yen

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Source: Dukascopy Bank SA
Japanese stocks dropped, sending down the Nikkei 225 for its biggest decline on week since November, as the Yen appreciated against its major peers after Russia rejected Cyprus bailout plan, and Haruhiko Kuroda, the BOJ's governor, did not announce fresh monetary stimulus. The Nikkei 225 Index declined 2.4% to 12,338.53, posting a 4% weekly drop. 210 out of 225 members in the gauge posted losses. Tokyo Dome Corporation slid 7.8%, the most in the index, to drag down consumer services that were 3.5% lower. Furthermore, FANUC Corporation, one of the world's largest makers of industrials robots, retreated 5.5% to 14,510 yen to drag down industrials that erased 2.5% for the second biggest fall on Nikkei. Takara Holdings followed with a 5.1% plunge, adding to losses in consumer goods shares. Among best performers was Takashimaya Co Ltd that advanced 1.5% to close at 902 yen.

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Fri, 22 Mar 2013 13:21:06 GMT

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