Japanese
stocks fell, after the Topix index posted its first weekly advance in
2015, as the yen gained amid official projections showing Greece™s
anti-austerity Syriza party may get close to winning a majority.
The
Topix slid 1 percent to 1,388.85 as of 9:00 a.m. in Tokyo after
increasing 2.9 percent last week. All 33 industry groups retreated. The
Nikkei 225 Stock Average declined 1.2 percent to 17,300.64. The yen
added 0.3 percent to 117.41 per dollar after strengthening 0.6 percent
on Jan. 23.
Syriza
leader Alexis Tsipras said Greece™s era of bowing to international
creditors is over, as he celebrated his party™s victory. While it
remains unclear whether Syriza will be able to govern alone, the result
hands Tsipras a mandate to confront Greece™s program of austerity
imposed in return for pledges of 240 billion euros ($267 billion) in aid
since May 2010.
Futures
on the Standard & Poor™s 500 Index sank 0.8 percent. The underlying
equity measure dropped 0.6 percent on Jan. 23, as weaker-than-forecast
results at companies from United Parcel Service Inc. to Kimberly-Clark
Corp. offset confidence that central banks will support global growth.
Source: Bloomberg
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