Nikkei slips amid risk-off trade, gains ground for the week

  • Reuters
  • Stock Market News
Nikkei slips amid risk-off trade, gains ground for the week
Credit: © Reuters.

By Joshua Hunt

TOKYO, Nov 13 (Reuters) - Japanese stocks slipped on Friday, snapping a seven-day winning streak as investors shunned risk and cashed in on recent gains after a sharp drop on Wall Street and weaker commodities prices.

The Nikkei share average .N225 lost 0.5 percent to end the day at 19,596.91. The benchmark index added 1.7 percent for the week for its fourth consecutive week of gains.

Toshiba Corp 6502.T tumbled 5.9 percent after fresh revelations of fiscal 2012 and 2013 losses at its U.S. nuclear unit Westinghouse dampened hope for quick closure on the company's $1.3 billion accounting scandal.

MatsumotoKiyoshi Holdings 3088.T jumped 7.4 percent after raising its operating profit outlook for the year through March.

The foods sector .IFOOD.T added 0.6 percent, helped by Nissin Foods Holdings Co Ltd 2897.T , which gained 9.5 percent after raising its full-year earnings outlook.

The broader Topix .TOPX fell 0.5 percent to 1,585.83 on Friday, but added 1.4 percent for the week.

The JPX-Nikkei Index 400 .JPXNK400 lost 0.5 percent to end the day at 14,285.92.

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