Bloomberg, (26/3) -- Japanese shares
fell as the yen traded near a three-week high amid concern the
restructuring plan for Cyprus will set a precedent for losses on
deposits in other European countries.
Toyota Motor Corp., the
world’s largest carmaker, slid 1.2 percent. Konica Minolta Holdings
Inc., a lensmaker that gets 28 percent of its revenue from Europe, fell
4.3 percent. Nippon Electric Glass Co. jumped 3.7 percent after raising
its profit forecast, leading gains on the Nikkei 225 Stock Average.
Softbank Corp., Japan’s No. 3 mobile operator, rose 3.1 after saying it
will raise its stake in Gungho Online Entertainment Inc. to tap demand
for mobile games.
The Nikkei 225 slid 0.4 percent to 12,492.35 as
of 9:47 a.m. in Tokyo, with trading volume 22 percent below the 30-day
intraday average. The broader Topix Index declined 0.3 percent to
1,044.19. About three stocks fell for every two that gained on the
gauge.
“The atmosphere of hope and fear is going to continue,”
said Toshihiko Matsuno, senior strategist at SMBC Friend Securities Co.
in Tokyo. “The wind has turned negative for the exporters. There’s going
to be some backlash on financial and real estate stocks too, as they
rose a lot yesterday.”
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