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Monday 3 December 2012

Japan stocks fall, with car makers mostly lower

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LOS ANGELES (MarketWatch) -- Japanese stocks fell in early Tuesday action, taking a cue from losses on Wall Street over weak U.S. manufacturing data and worries over the fiscal cliff. The Nikkei Stock Average JP:100000018 -0.28% lost 0.5% to trade at 9,406.87, while the Topix surrendered 0.4%. Auto-maker stocks were broadly lower after most reported drops in domestic sales but gains in U.S. sales. Toyota Motor Corp.JP:7203 0.00% TM -0.49% slipped 0.3%, and Nissan Motor Co. JP:7201 -1.49% NSANY +0.26%dropped 1.6%. Mitsubishi Motors Corp. JP:7211 -1.28% MMTOF -1.04% , which saw its November North American sales slip slightly, traded 2.6% lower, but shares of Honda Motor Co. JP:7267 +0.85% HMC -1.92% rose 0.7% after posting its best U.S. sales ever. Tech exporters were mostly lower, with Hitachi Ltd. JP:6501 -1.47% HTHIF 0.00% lower by 1.5%, and camera-maker Nikon Corp. JP:7731 -2.02% NINOF -2.49% falling 1.5%, while Advantest Corp. JP:6857 -3.64% ADTTF +4.34% tumbled 3.4% after Credit Suisse cut its rating to underperform from outperform. Sharp Corp. JP:6753 +1.16% SHCAF -0.50% rose 1.7%, however, after a Nikkei news report that it plans to join Qualcomm Inc. QCOM -0.39%to develop an energy-efficient LCD smartphone panel.

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