Tokyo stocks fall after powerful quake
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TOKYO - Tokyo stocks slipped on Friday, breaking a three-session winning streak as investors weighed the impact of a deadly quake that hit Japan's southwest, shutting the factories of some of the country's biggest firms.
Shares in Sony, Honda Motor and leading tyre maker Bridgestone sank after they temporarily suspend operations at production facilities following the 6.5 quake that left at least nine people dead and toppled buildings.
"It's possible that there may be effects on individual companies through the supply chains," Juichi Wako, a senior strategist at Nomura Holdings, told Bloomberg News.
But Wako said investors were also keen to cash in on a recent rally in Tokyo stocks.
"We had a lot of gains over the past three days so it's easier to see profit-taking," he added.
The benchmark Nikkei 225 index at the Tokyo Stock Exchange lost 0.37 per cent, or 63.02 points, to close at 16,848.03. On the week, it was up a robust 6.49 per cent.
The broader Topix index of all first-section shares eased 0.73 per cent, or 9.95 points, to 1,361.40. It gained 5.72 per cent for the week.
Attention next week will be on Japanese trade data and the European Central Bank's latest policy meeting.
Sony fell 3.20 per cent to 2,935 yen after the electronics giant said it had stopped operations at a semiconductor manufacturing facility and was investigating the damage. Honda dropped 1.01 per cent to 3,035 as the auto maker cancelled production at a motorcycle plant in Kumamoto.
Bridgestone was down 0.51 per cent at 4,105 yen.
Among other companies, Toyota, which stopped production at its Miyata vehicle assembly plant and two other factories while it confirmed whether there had been any impact from the quake at its suppliers, fell 1.14 per cent to 5,740 yen.
Factory robotics giant Fanuc tumbled 2.63 per cent to 18,505 yen.
- AFP
