Nikkei drops to near 2-week low; real estate, brokers weak

  • Reuters
  • Stock Market News
Nikkei drops to near 2-week low; real estate, brokers weak
Credit: © Reuters.

TOKYO, Nov 13 (Reuters) - Japan's Nikkei dropped to a near two-week low on Monday as many sectors, including real estate and brokerage firms, languished after recent rallies, offsetting gains in companies with strong results such as Nissin Foods.

The Nikkei .N225 ended 1.3 percent lower to 22,380.99, the lowest closing level since Oct. 31 and its fourth straight daily decline. The broader Topix .TOPX dropped 0.9 percent to 1,783.49. Turnover was 2.7 trillion yen, the lowest level in 2-1/2 weeks.

Big losers included real estate firms, brokerage firms and construction companies, with Mitsui Fudosan 8801.T shedding 4.1 percent, Mitsubishi Estate Co 8802.T falling 2.6 percent, Nomura Holdings 8604.T declining 2.5 percent and Taisei Corp 1801.T tumbling 2.7 percent.

Bucking the weakness, instant food maker Nissin Foods Holdings Co 2897.T rose 7.2 percent after hitting a record high of 7,830 yen after its April-Sept net profit jumped 15.5 percent to 14.11 bln yen ($124.2 million). shares also lost ground, with Tokyo Electron 8035.T sliding 1.4 percent and Advantest 6857.T shedding 2.1 percent.

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