Japan shares fall on profit taking as investors eye earnings

  • Reuters
  • Stock Market News
Japan shares fall on profit taking as investors eye earnings
Credit: © Reuters.

By Stanley White

TOKYO, Oct 12 (Reuters) - Japanese stocks fell on Monday as concerns about upcoming corporate earnings reports prompted some investors to take profits, with industrial and consumer discretionary sectors leading the decline.

The Nikkei index .N225 was down 0.30% at 23,548.46 by 0134 GMT, while the broader TOPIX .TOPX fell 0.16% to 1,644.81.

Shares of Yaskawa Electric Corp 6506.T were the biggest decliner on the Nikkei, sinking 6.13% after the industrial robot maker said on Friday it expects its dividend payments to fall by around half. said the news also weighed on broader sentiment, with investors also reluctant to buy stocks due to uncertainty about the U.S. presidential election on Nov. 3 and how that will affect economic policy.

The second-biggest decliner on the Nikkei was Citizen Watch Co Ltd 7762.T , down 3.58%, followed by industrial conglomerate JGC Holdings Corp 1963.T , losing 2.52%.

The largest percentage gainers in the index were property developer Mitsui Fudosan Co Ltd 8801.T , up 1.8%, followed by air carrier ANA Holdings Inc 9202.T , gaining 1.4%, and investment fund SoftBank Group Corp 9984.T , up by 1.3%.

There were 54 advancers on the Nikkei index against 165 decliners.

The volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 0.32 billion, compared with the average of 1.16 billion in the past 30 days.

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