LONDON (ShareCast) - The Nikkei fell Monday, despite a report showing a jump in Japanese industrial output in May, as traders offloaded oil related stocks while shares in Daiwa Securities slumped on its plans to raise around 240bn yen.
Japan's
biggest brokerage fell almost 13% to 583 yen after it announced its plans on Friday to help fund expansion plans.
Meanwhile a drop in crude oil prices took shares in trading company Mitsubishi Corp (MBC.IL - news) down 3% to 1,755 yen. Mitsui & (Munich: 853656 - news) amp; Co fell 4% to 1,116 yen.
Elsewhere Takeda Pharmaceutical was down over 2% at 3,710 yen on news that its main diabetes drug had failed to get approval from US regulators.
In economic news Japanese industrial output rose for the third consecutive month in May, by 5.9%. However the rise was less than analyst forecasts of a 7% rise.
The Nikkei 225 index closed down 93 points at 9,783 in Tokyo.
A decline in oil and metal prices weighed on the Hang Seng (news) on Monday in a choppy start to the week.
Shares in Cnooc (0883.HK - news) were down 2% while PetroChina nudged 0.8% lower to HK$8.61. Jiangxi Copper and Aluminum Corp of China both dropped 2.5%.
The Hang Seng index fell 62 points to close at 18,538 in Hong Kong.
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
