Nikkei falls 2.0 pct on Wall St weakness, weak oil price, strong yen

lunes 12 de enero de 2015 22:17 GYT
 

* Negative news accumulated over the long weekend - analyst
    * Exporters hurt after dollar/yen falls to one-month low
    * Retail shares tumble on weak profits for March-Nov period

    By Ayai Tomisawa
    TOKYO, Jan 13 (Reuters) - Japan's Nikkei share average fell
2.0 percent on Tuesday after a long weekend as declines in U.S.
stocks and weakening oil prices dampened risk appetite, while a
strong yen hurt exporters.
    By mid-morning, the Nikkei was at 16,849.34, nearing
its one-month low of 16,672.94 hit on Dec. 17. On Friday, it
gained 0.2 percent.
    Retail shares weighed.
    Aeon Co tumbled 5.9 percent to a one-month low
after it reported that its operating profit fell 48 percent in
the March-November period from a year earlier.
    While Seven & i Holdings dropped 3.1 percent after
posting a worse than expected profit for the March-November
period.  
    Investors in Japan returned to the market on Tuesday after a
three-day weekend to find U.S. shares had been battered, oil
prices had slid further and the yen had risen.
    Analysts said that last week the market had briefly taken
comfort from a halt in sliding oil prices, but prices had once
again begun to fall.  Goldman Sachs slashed its short-term price
forecast for crude. 
    "Today's drop is due to negative news accumulated during the
long weekend," said Takuya Takahashi, an analyst at Daiwa
Securities. "Even U.S. jobs data were mixed, and U.S. earnings
wasn't good."
    U.S. job growth increased briskly in December, but wages
posted their biggest decline in at least eight years in as the
tighter labour market has yet to give much of a boost to
workers. 
    For U.S. earnings, Tiffany & Co cut its full-year
profit forecast, citing a disappointing holiday shopping season.
 
    Meanwhile, investors digested weekend news that Japan's
government will propose a record budget for next fiscal year of
more than $800 billion but cut borrowing for a third year, as
Prime Minister Shinzo Abe seeks to maintain growth while curbing
the heaviest debt burden in the industrial world 
    Exporters were hit as the dollar dropped to 117.72
yen, the lowest since Dec. 17. Toyota Motor Corp 
dropped 2.8 percent, Honda Motor Co fell 1.5 percent
and Sony Corp declined 4.2 percent.
    Index-heavy stocks also dropped, with Fast Retailing Co
 falling 2.3 percent and SoftBank Corp dropping
2.4 percent.
    The broader Topix shed 1.8 percent to 1,356.20, and
the new JPX-Nikkei Index 400 fell 1.7 percent to
12,287.35.
   

 (Editing by Simon Cameron-Moore)