Nikkei drops on strong yen, N.Korea missile launches; defense stocks rise

  • Reuters
  • Stock Market News
Nikkei drops on strong yen, N.Korea missile launches; defense stocks rise
Credit: © Reuters.

TOKYO, March 6 (Reuters) - Japanese shares fell on Monday in thin trade as the yen firmed and as global geopolitical tensions rose after North Korea fired four missiles, three of which landed in Japan's exclusive economic zone. Nikkei share average .N225 fell 0.5 percent to 19,379.14 points.

Defense-related stocks outperformed on speculation that North Korea's latest launch will spur more Japanese spending on arms.

Landmine maker Ishikawa Seisakusho 6208.T jumped 5.1 percent, while Mitsubishi Heavy Industries 7011.T rose 0.2 percent and Kawasaki Heavy Industries 7012.T 0.3 percent.

The broader Topix .TOPX shed 0.2 percent to 1,554.90, with only 1.409 billion shares changing hands, the lowest volume since Dec. 28. The JPX-Nikkei Index 400 .JPXNK400 declined 0.3 percent to 13,918.68.

The Nikkei Jasdaq index .NOTC rose for a 17th day, hitting its record closing high of 3,039.86.

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