TOKYO: Japanese stocks fell for the first time in four days, paring the Topix index’s biggest weekly gain since February, after weak US economic data pushed the yen higher against the dollar.
TDK Corp, an electronics maker that gets most its sales overseas, dropped 2.2 per cent. Air carriers led declines on the Topix as Japan Airlines lost 2.9 per cent after crude oil reached a four-month high.
Digital advertising agency CyberAgent tumbled 3.6 per cent as net income and sales missed estimates. Kao Corp slumped 2.6 per ent after the cosmetics maker’s quarterly profit dropped more than half.
The Topix lost 0.4 per cent to 1,618.84 at the close in Tokyo, paring its weekly gain to 1.9 per cent. The Nikkei 225 Stock Average dropped 0.8 per cent to 20,020.04, ending the week above 20,000 for the first time in 15 years.
