TOKYO: Japanese stocks fell after the Topix index posted its biggest weekly advance in almost two months. Insurers and utilities led losses, while commodity companies gained.
MS&AD Insurance Group Holdings Inc. slipped 2.9 percent, leading a retreat among stocks in the industry, and Tokyo Gas Co. declined 3.5 percent. Taisho Pharmaceutical Holdings Co. retreated 1.2 percent as Barclays Plc advised selling the shares. Inpex Corp. led gains among oil explorers, rising 1.6 percent. Nippon Electric GLASS
Co. surged 18 percent for the biggest gain on the Topix after profit topped forecasts.
The Topix slid 0.2 percent to 1,586.26 at the close in Tokyo, reversing a 0.2 percent gain. The gauge climbed 1.6 percent last week. The Nikkei 225 Stock Average was little changed at 19,905.46 today, having briefly traded above 20,000 on Friday for the first time in 15 years.
“I expect the Nikkei 225 to fluctuate around the 20,000 level this week,” said Yasuyuki Suda, Tokyo-based general manager at Mito Securities Co. “We have U.S. first-quarter earnings coming out this week, but if profits look negative there’s a possibility Japanese stocks will be dragged down.”
