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Japanese stocks slide for 2nd day in wake of decline on Wall Street, weak CPI data

Japanese stocks slide for 2nd day in wake of decline on Wall Street, weak CPI data

Japanese stocks dipped for a second day Friday in the wake of a drop overnight on Wall Street and weak Japanese consumer price data as investors sold technology, retail and banking stocks.
The benchmark Nikkei 225 index fell 36.37 points, or 0.21 percent, to finish at 17,421.93 points on the Tokyo Stock Exchange. On Thursday, the index touched 17,617.64 in intraday trading, its highest since July 2000.
Sentiment took a hit after the Dow Jones industrial average suffered its biggest decline in two months, falling 119.21, or 0.94 percent to 12,502.56. The Nasdaq composite index tumbled 1.3 percent.
Retail companies and other issues judged to be sensitive to domestic demand fell after the government said the core consumer price index rose a lower-than-expected 0.1 percent on year in December. Department store Marui Co. fell 1.77 percent to 1,495 yen (US$12.36).
Technology stocks also declined, with Elpida Memory Inc. posting a 1 percent drop to 5,690 yen (US$47.02). Other losers included Mizuho Financial Group Inc., which fell 1 percent to 889,000 yen (US$7,347.11).
The broader Topix index, which includes all shares on the exchange's first section, shed 1.38 points, or 0.08 percent, to 1,728.02 points Friday. It fell 9.21 points, or 0.53 percent, the day before.
In currencies, the dollar was trading at 121.38 yen at 2:50 p.m. (0550GMT) Friday, up from 121.11 yen late Thursday in New York. The euro fell to US$1.2922, from US$1.2928.


Updated : 2021-05-12 22:00 GMT+08:00