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.
Shares of Yaskawa Electric Corp 6506.T were the biggest decliner on the Nikkei, sinking 5.43% 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.
"Yaskawa released their earnings early, and what they've done with their dividend puts a spotlight on whether other companies will follow suit," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley (NYSE: MS ) Securities.
"The Nikkei is already at a very high level, so investors are easily tempted to take profits."
The largest percentage gainers in the index were healthcare services provider M3 Inc 2413.T up 2.91%, followed by airline ANA Holdings Inc 9202.T gaining 2.65%, and equity investor SoftBank Group Corp 9984.T up by 2.64%
There were 59 advancers on the Nikkei index against 162 decliners.
Data earlier on Monday showed Japan's core machinery orders - a leading indicator of capital expenditure - unexpectedly rose in August in a positive sign for the economy, but this did not help Japanese stocks. volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 0.73 billion, compared with the average of 1.16 billion in the past 30 days.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.