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Nikkei slips 0.7 pct, tech and trading firms slide

Fri Jul 18, 2008 2:13am EDT
 
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TOKYO, July 18 (Reuters) - Japan's Nikkei stock average slipped 0.7 percent on Friday, marking its sixth straight week of falls as Kyocera Corp (6971.T: Quote, Profile, Research, Stock Buzz) and other high-tech shares dropped on disappointing results from U.S. firms such as Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz).

Mitsubishi Corp (8058.T: Quote, Profile, Research, Stock Buzz) and other trading firms slid after oil lost over $15 in three days.

Banks buoyed earlier in the day by better-than-expected results from JPMorgan (JPM.N: Quote, Profile, Research, Stock Buzz) pared gains as investors grew increasingly nervous about U.S. corporate earnings later on Friday.

The benchmark Nikkei .N225 shed 84.25 points to 12,803.70 while the broader Topix ended down 0.9 percent at 1,252.43. (Reporting by Elaine Lies;)

 

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