Japan stocks slip after data; steel, shippers up
Japanese stocks slid on Monday as investors wary of credit woes sold some financial stocks following Friday's rises.business Updated: Sep 03, 2007 12:03 IST
Japanese stocks slid on Monday as investors wary of credit woes sold some financial stocks following Friday's rises, while an unexpected drop in capital spending data put a lid on the overall market.
But losses were curbed as Nippon Steel Corp, the world's second-biggest steelmaker, rose on a news report about its higher dividends, and shipping stocks sailed higher after the Baltic Exchange's Dry Freight Index hit a fresh record high.
Fujitsu Ltd ended higher after the company won a multimillion-dollar order from Flag Telecom, the undersea cable arm of India's Reliance Communications Ltd
The Nikkei shed 0.27 percent, or 44.16 points, to 16,524.93, while the broader TOPIX index fell 0.17 percent to 1,605.44.