Japan stocks lower in early move, Japan’s Nikkei down 0.4%

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TOKYO: Japan’s stock market managed to whittle down its opening loss Monday morning, but remained broadly weaker under the influence of a firm yen and a heavy decline on Wall Street. In early trade, the blue-chip Nikkei Stock Average NIK, +0.29% was down 0.4%, about half the level of its deficit at the open, while the broader Topix was lower by 0.6%. The pullback followed on from a significant retreat for U.S. shares Friday, including a 1.5% drop for the tech-heavy Nasdaq COMP, -1.52% and a slight gain for the yen, with the dollar USDJPY, -0.17% buying ¥118.87, after spending much of the previous Tokyo stock session around the ¥119 mark. Auto makers were a weak spot, failing to get a bump from the ongoing Shanghai auto show, with Honda Motor Co. 7267, -0.60% HMC, +0.34% down 1.6%, Nissan Motor Co. 7201, +1.04% NSANY, +0.00% down 1.2%, Toyota Motor Corp. 7203, -0.04% TM, -0.40% down 0.9%, and Suzuki Motor Corp. 7269, +0.40% SZKMF, -1.60% losing 1.8% after a Nikkei news report said the car and motorcycle producer’s operating profit likely fell by 5% during the fiscal year that ended in March. The tech and industrial sectors also saw some significant declines, with Sharp Corp. 6753, -0.38% SHCAF, +1.38% down 1.5%, Nikon Corp. 7731, -1.11% NINOF, -1.96% down 2.6%, Renesas Electronics Corp. 6723, -1.81% RNECY, +0.00% down 1.4%, and Kawasaki Heavy Industries Ltd. 7012, -0.49% KWHIY, -1.50% down 1.3%. On the other hand, robot maker Fanuc Corp. 6954, +0.19% FANUF, -1.33% — which is heavily exposed to China — improved by 1.7%, possibly helped by Chinese monetary stimulus announced over the weekend. Sony Corp. 6758, +2.19% SNE, -3.44% rose 0.7%, perhaps boosted in part by a better-than-expected debut for its film “Paul Blart: Mall Cop 2.” Among the top advancers, retail major J. Front Retailing Co. 3086, +2.17% JFROF, +1.74% rallied 3.4% and mail-order company Senshukai Co. 8165, +2.60% added 3.7% after Reuters reported J. Front was taking an almost 23% stake in Senshukai. Takeda Pharmaceutical Co. 4502, +2.71% TKPHF, -0.13% got a 2% bump higher amid plans to team with Kyoto University on stem-cell research, according to the Nikkei. And shares in Skymark Airlines Inc. JP:9204 remained untraded, with several reports saying larger rival ANA Holdings Inc. 9202, +0.33% ALNPF, +1.36% may invest in the bankrupt discount carrier. ANA shares rose 0.2%.