Reply #18: Japanese Stocks Fall; Dollar Down [View All]

[Ghost Dog]

http://asia.news.yahoo.com/061019/ap/d8krknd80.html

Japanese stocks slipped Thursday as investors sold technology, insurance and pharmaceutical stocks and turned their attention to the beginning of third-quarter earnings season.

The benchmark Nikkei 225 index fell 101.64 points, or 0.61 percent, to finish at 16,551.36 points on the Tokyo Stock Exchange. The index rose 0.25 percent the day before.

"The market will be shifting away from macroeconomic data to company specifics and that will be key to moves from here," said Hitoshi Yamamoto, president of Commerz International Capital Management.

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The broader Topix index, which includes all shares on the exchange's first section, shed 5.95 points, or 0.36 percent, to 1,632.79 points. The Topix added 0.79 points, negligible in percentage terms, Wednesday.

Meanwhile, Bank of Japan Gov. Toshihiko Fukui, said Thursday that Japan's economy continues to expand moderately and remained upbeat on the future economy.

"As for the outlook for the economy, a long-lasting economic expansion on the basis of a favorable mechanism led by production, income and consumption will continue," Fukui said at the opening of the central bank's quarterly branch managers' meeting.

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