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Nikkei edges lower after weakness in large cap stocks weigh
December 4, 2017 / 1:47 AM / 9 days ago

Nikkei edges lower after weakness in large cap stocks weigh

TOKYO, Dec 4 (Reuters) - 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 percent, or 49.39 points, to 22,769.64 in midmorning trade.

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

Department store operators gained ground, with Isetan Mitsukoshi Holdings rising 1.2 percent, J. Front Retailing soaring 2.7 percent and Takashimaya Co surging 1.8 percent 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 percent to 1,794.04. (Reporting by Ayai Tomisawa; Editing by Eric Meijer)

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