Nikkei 225 Slips on Dollar Drop; HK Shares End Up

(Bloomberg) -- Japan’s Nikkei 225 Stock Average fell for the first time in a week as a dollar sell-off sparked by the U.S. Federal Reserve’s pledge to buy $1 trillion in bonds overshadowed optimism the action will revive credit markets. Honda Motor Co., which gets more than half its sales in North America, lost 3 percent as the weaker dollar diminished overseas income. Sumitomo Mitsui Financial Group Inc. added 5.4 percent on speculation central bank operations will boost lending. J Front Retailing Co. plunged 9 percent after nationwide department store sales fell the most since 1998 and Goldman Sachs Group Inc. lowered its shares to “sell.” The Nikkei 225 Stock Average lost 26.21, or 0.3 percent, to 7,945.96 at the close of trading in Tokyo, reversing a 0.8 percent advance. The broader Topix index was little changed at 764.77, with 21 of its 33 industry groups advancing. The Nikkei climbed 5 percent this week, while the Topix jumped 5.6 percent, its best performance in 2009. Japan’s markets will be closed tomorrow for a holiday.














(Dow Jones)--Gains in property companies sent Hong Kong shares slightly higher Thursday, but profit-taking in HSBC after several days of gains and a decline in China Mobile on an uninspiring earnings result kept a lid on the gains. Huiyuan Juice plunged as much as 53% after it resumed trading following Beijing's rejection of Coca-Cola's US$2.4 billion bid for the juice maker. The firm closed down 42% at HK$4.80. The blue-chip Hang Seng Index rose 13.75 points, or 0.10%, to 13,130.92 after trading between 12,947.90 and 13,205.17 during the session. Turnover totaled HK$48.59 billion, up from HK$37.5 billion Wednesday. Traders said they expect the index to hover around the 13,000 level after it rose in seven out of the past eight sessions. But index heavyweight China Mobile capped the index's gains, falling 2.1% to HK$66.70 after posting a slightly weaker-than-expected 2008 result. The world's biggest mobile operator by subscribers posted a 30% rise in net profit to CNY112.80 billion, slightly lower than the average CNY115.07 billion forecast of nine analysts polled earlier by Dow Jones Newswires.