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Microsoft Corporation Message Board

  • flashcrashcoming flashcrashcoming Nov 4, 2012 10:09 PM Flag

    Japan stocks start week lower, with techs dragging


    Japan stocks start week lower, with techs dragging

    By Michael Kitchen
    LOS ANGELES (MarketWatch) -- Japanese stocks fell in early Monday trading, with blue-chip technology shares moving lower after some ratings-agency actions and an almost 1.3% drop Friday for the tech-heavy U.S. Nasdaq COMP -1.26% . The Nikkei Stock Average JP:100000018 -0.31% traded down 0.5% at 9,005.22, with the Topix also 0.5% lower. Among the major tech names, Sharp Corp. JP:6753 -4.85% SHCAF -1.97% took another dive, dropping 5.5% after Fitch cut its rating on Sharp's debt late last week, citing liquidity concerns. Sony Corp. JP:6758 -2.36% SNE -4.15% lost 2.4% after its first-half earnings results prompted Moody's to warn of a possible downgrade. Among other majors, Panasonic Corp. JP:6752 -2.92% PC -4.40% retreated 2% and Fujitsu Ltd. JP:6702 -3.74% FJTSY -1.91% lost 3.4%. Daiwa Securities Group Inc. JP:8601 -1.82% DSECF +7.71% helped lead losses for the financials, dropping 3% despite the broker posting a swing to profit in the first fiscal half, as its European and Asia operations continued to lose money. On the upside, Toyota Motor Corp. JP:7203 +2.39% TM -0.32% rose 1.3% ahead of its earnings report due later in the day, as broadcaster NHK said the auto maker would hike its full-year operating profit forecast.

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