Japanese stocks fell a third day after the nation's capital spending rose less than expected and the yen strengthened after Federal Reserve Chairman Ben S.
Bernanke signaled further bond purchases.
Canon Inc., A camera maker that gets 27% of its revenue in the Americas, sank 1.2%. Komatsu Ltd..,
A manufacturer of construction machinery that relies on China for 14% of its sales, fell 2% after the nation's manufacturing output contracted for the first time in nine months. Sharp Corp.. sank 6.1% after the Nikkei newspaper reported the television maker offered to cut the price of shares it is selling to Taiwan's Foxconn Technology Group.
The Nikkei 225 Stock Average fell 0.4% to 8,805.26 at the 11:30 am trading break in Tokyo, with about the same volume as the 30-day average.
The broader Topix Index slid 0.2% to 730.32. About eight shares dropped for every seven that gained.
The capital investment of data is "a catalyst for sluggish earnings and is clouding domestic business sentiment," said Kiyoshi Ishigane, a Tokyo-based strategist at Mitsubishi UFJ Asset Management Co.., Roomates oversees about $ 70 billion. "The yen's strength has the biggest impact on the Japanese market today. Bernanke's remarks may have driven the appreciation."
0 comments:
Post a Comment