Nikkei retreats from 1-week high; Toshiba, SoftBank down

Reuters

TOKYO, Oct 31 (Reuters) - Japan's Nikkei eased from a

one-week high on Thursday as investors found little comfort from

some of the corporate earnings, with the likes of Toshiba Corp

sliding 5.2 percent on concerns it relies heavily on

NAND chips as an earnings driver.

Honda Motor Co Ltd fell 1.3 percent as investors

were disappointed that it kept its full-year earnings guidance

and All Nippon Airways shed 4.7 percent after it almost

halved its annual profit forecast, but personal-care maker Kao

Corp gained 3.5 percent after robust earnings.

Index heavyweight SoftBank Corp shed 2.9 percent

ahead of its quarterly results after the market close.

The Nikkei fell 1.2 percent to 14,327.94, giving up

Wednesday's rise by a similar margin and breaking below its

five-day moving average of 14,328.10. The index was down 0.9

percent in October but still up 38 percent so far this year.

The broader Topix index was down 0.9 percent at

1,194.26, with 2.82 billion shares changing hands, down from a

six-week high of 3.48 billion reached on Wednesday.

The Bank of Japan kept monetary policy steady, encouraged by

growing signs its aggressive stimulus is working its way through

broader sectors of the economy.

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