Japanese shares halt their last week's gains

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Source: Dukascopy Bank SA
Japanese Stocks dropped, dragging down the Nikkei 225 index from its longest stretch of gains since 1970, as Fanuc Corporation and Advantest Corporation retreated on rising concerns about their profits. The Nikkei 225 declined 0.9% to 10,824.31. Eight out of ten groups in the index edged lower. Fanuc erased 7% to 13,550 yen after the company lowered its earnings outlook and paced losses in the worst performing industrial shares that slumped 2.17%. Advantest Corporation eased 5.3% after a report showed the world's biggest producer of memory-chip testers will underperform its forecast for operating profit. Furthermore, Mitsubishi Electric slid 4.4% to 731 yen to pace losses in the industrials group after the company released its plans to make redundant more that 300 jobs. Alongside to that, Sony Corporation posted the biggest gain in the gauge by jumping 9% as the China Daily Newspaper wrote the nation might impose a ban on game consoles imports. Citizen Holdings followed with a 6.8% increase to cap further losses in consumer services that were 0.5% down.
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