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Japan stocks fall on profit-taking, stronger yen
Published in Saudi Press Agency on 05 - 07 - 2012

Japanese shares declined Thursday for the first fall
in three days, with export-linked issues hurt by the yen's strength,
and as investors sold stocks to lock in quick profits after recent
gains, according to dpa.
The benchmark Nikkei 225 Stock Average lost 24.37 points, or 0.27
per cent, to end at 9,079.8 after gaining 0.41 per cent Wednesday.
The broader-based Topix index was down 2.33 points, or 0.3 per
cent, at 776.37.
Exporters were down as the yen advanced further against major
currencies in the afternoon, hovering around the upper-99-yen level
to the euro. A stronger yen makes Japanese goods more expensive
overseas and hurts repatriated revenues.
Shares in Panasonic Corp fell 2.05 per cent, Canon Inc declined
0.16 per cent, Nissan Motor Co lost 0.92 per cent and Honda Motor Co
was down 0.62 per cent.
On currency markets at 3 pm (0600 GMT), the dollar traded at
79.74-78 yen, little changed from Wednesday's 5 pm quote of 79.77-79
yen.
The euro was quoted at 1.2531-2534 dollars, down from 1.2580-2582
dollars late Wednesday, and at 99.94-98 yen, down from 100.35-39 yen.


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