- Published on Thursday, 05 April 2012 01:07
- Written by Bloomberg.com
Japanese stocks fell for a third day, with the Nikkei 225 (NKY) Stock Average heading for a four-week low, after falling demand at a Spanish bond auction refocused investors’ concern on Europe’s debt crisis, weakening the euro and dimming the outlook for exporters.
Sony Corp. (6758), an electronics maker that depends on Europe for more than a fifth of its sales, slid 1.9 percent. Inpex Corp., the nation’s largest oil explorer by market value, sank 2.1 percent after oil prices declined. Mitsubishi Heavy Industries, Ltd. lost 1.3 percent on a report its jet deliveries will be delayed by at least one year.
The Nikkei 225 fell 0.8 percent to 9,740.56 as of 9:12 a.m. in Tokyo, set for the lowest close since March 7. Volume was 6.1 percent higher than the 30-day average. The broader Topix Index lost 1.1 percent to 826.53, with more than seven times as many shares declining as advancing. Full story