Nikkei edges lower after weakness in large cap stocks weigh

Updated - January 09, 2018 at 12:59 PM.

The Nikkei dropped 0.2 per cent, or 49.39 points, to 22,769.64. File Photo

Japan's Nikkei share average edged lower on Monday morning with weakness in large-cap stocks such as Fanuc and SoftBank taking a toll, offsetting gains in retail stocks which rose on strong monthly sales.

The Nikkei dropped 0.2 per cent, or 49.39 points, to 22,769.64 in midmorning trade.

Fanuc Corp shed 1.7 per cent and SoftBank Group Corp declined 1.0 per cent, contributing a hefty negative 26 points to the Nikkei index.

Department store operators gained ground, with Isetan Mitsukoshi Holdings rising 1.2 per cent, J. Front Retailing soaring 2.7 per cent and Takashimaya Co surging 1.8 per cent after they posted strong monthly sales in November thanks to higher inbound-tourism demand and strong sales of winter clothes.

The broader Topix dropped 0.1 per cent to 1,794.04.

Published on December 4, 2017 03:56