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Nikkei seen dropping; Google results to prompt profit-taking
2012年10月18日 / 晚上11点36分 / 5 年前

Nikkei seen dropping; Google results to prompt profit-taking

TOKYO, Oct 19 (Reuters) - Japan's Nikkei share average is
likely to fall on Friday, with worse-than-expected earnings from
Google Inc and Microsoft Corp set to prompt
profit-taking after the benchmark rallied to a three-week high a
day earlier.
    Market players said the Nikkei was likely to trade between
8,900 to 9,000 on Friday after Nikkei futures in Chicago closed at 8,970, down 0.1 percent from the close in
Osaka of 8,980.
    "There was bad news from Google and it's the last day of a
week in which the Nikkei has added 400 points, so I think we
could see some profit-taking on cyclicals today," said Masayuki
Doshida, senior market analyst at Rakuten Securities.
    "However, the yen is still soft so we shouldn't see too big
a fall." 
    The benchmark has gained 5.3 percent so far this week as
better-than-expected U.S. earnings and an easing of concerns
about the euro zone and China's slowdown bolstered risk
    Google's third-quarter earnings and revenue came in well
under forecasts after its core advertising business slowed,
sending it shares down 8 percent, while Microsoft's quarterly
profit fell more than expected, hurt by the industry-wide slump
in PC sales.
    The Nikkei climbed 2 percent in heavy volume on Thursday,
reaching 8,982.86 and sailing above its 25-day moving average
for the first time in three weeks. 
> Weak Google results hit tech stocks, drag Wall St down 
> Euro falls vs dollar as Spain uncertainty persists     
> Prices erase early gains, yields rise 4th straight day 
> Gold drops on weak equities, Europe uncertainty        
> Oil slips but pares loss on shut Canada-U.S. pipeline  
    Uniqlo, the casual clothing chain store operated by Fast
Retailing, is ramping up its U.S. expansion by launching an
online shopping site in the country next week in a bid to
compete against more established rivals like Zara and H&M.
    Hino Motors' operating profit will probably come in at a
record 30 billion yen ($379 million) for the April-September
first half after sales for trucks and buses in Southeast Asia
rose 40 percent, the Nikkei business daily said.

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