Nikkei snaps four-day winning streak

By Shawn Price  |  March 7, 2016 at 3:09 AM
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TOKYO, March 7 (UPI) -- Tokyo's Nikkei tumbled Monday, ending a four-day winning streak with investors remaining cautious after last week's rebound.

After climbing back more than five percent last week, the 225-issue Nikkei Stock Average finished down 103.46 points from Friday, or 0.61 percent, at 16,911.32. The broader Topix index finished 13.45 points lower, or 0.98 percent, at 1,361.90.

Sharp Corp climbed 7.3 per cent in anticipation of Taiwan's Foxconn closing its purchase of Sharp this week.

But mining shares, like Inpex Corp, fell 1.9 per cent and Japan Petroleum Exploration Co was off 0.6 per cent after big gains last week.

Bank stocks like Mitsubishi UFJ Financial Group was off 0.5 per cent, Mizuho Financial Group was off 1.7 per cent and Sumitomo Mitsui Financial Group slid 0.2 per cent.

Toyota Motor Corp fell 2.1 per cent, and Honda Motor Co dropped 0.5 per cent, but Panasonic Corp rose slightly 1.0 per cent.

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