TOKYO (Thomson Financial) - Japanese shares gave up earlier gains to close lower on Friday as investors exercised caution ahead of the U.S. session tonight, where stocks are expected to fall on weaker-than-expected quarterly results from Microsoft Corp and online search leader Google Inc.
Stocks were sold across the board with commodity-related issues leading the decline, while financial stocks trimmed or erased early gains.
A media report saying struggling mortgage giant Freddie Mac was considering a major stock sale added to the negative sentiment.
The Nikkei 225 Stock Average closed down 84.25 points or 0.7 percent at 12,803.70, off a low of 12,762.33 and off a high of 12.999.64. It was down 1.8 percent over the week.
The broader Topix declined 11.22 points or 0.9 percent to 1,252.43. It was down 2.4 percent from a week before.
Decliners outnumbered gainers 1,210 to 390 with 117 issues unchanged.
Volume rose to 1.79 billion shares from 1.68 billion shares on Thursday.
($1=105.99 yen)
masami.hachisu@thomsonreuters.com - hm/hm/hm/hm/ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
Stocks were sold across the board with commodity-related issues leading the decline, while financial stocks trimmed or erased early gains.
A media report saying struggling mortgage giant Freddie Mac was considering a major stock sale added to the negative sentiment.
The Nikkei 225 Stock Average closed down 84.25 points or 0.7 percent at 12,803.70, off a low of 12,762.33 and off a high of 12.999.64. It was down 1.8 percent over the week.
The broader Topix declined 11.22 points or 0.9 percent to 1,252.43. It was down 2.4 percent from a week before.
Decliners outnumbered gainers 1,210 to 390 with 117 issues unchanged.
Volume rose to 1.79 billion shares from 1.68 billion shares on Thursday.
($1=105.99 yen)
masami.hachisu@thomsonreuters.com - hm/hm/hm/hm/ng COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.