"Japanese stocks are falling, but they remain resilient because of the yen. The currency is the biggest barometer for Japan's corporate outlook"
- Isao Kubo, an equity strategist at Nissay Asset Management Corp.
Japanese stocks lost ground on Friday after a report showed sales of previously owned homes in the world's largest economy declined by more than expected.
The Nikkei 225 Stock Average declined 0.29 per cent, or 25.72 points, to 8,798.35. The broader Topix Index erased 0.40 per cent, or 3.04, to 750.92.
"All the data yesterday pointed to a slowdown, and we can't expect immediate stimulus measures," said Isao Kubo, a Tokyo-based equity strategist at Nissay Asset Management Corp. "Japanese stocks are falling, but they remain resilient because of the yen. The currency is the biggest barometer for Japan's corporate outlook."
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