LOS ANGELES Japanese stocks moved sharply lower in early Monday trade, as news of a possible cut-off of Greek aid and a consequently weaker euro hit shares, along with losses Friday in the U.S. The Nikkei Stock Average lost 1% to 8,584.38, while the Topix fell 0.9%. A German report that the International Monetary Fund would suspend aid to Greece appeared to weigh on Japanese financials, along with further yield drops for Japanese government bonds. Mitsubishi UFJ Financial Group Inc. dropped 1.6%, while Daiwa Securities Group Inc. fell 1.9%, and Resona Holdings Inc. retreated 1.3%. With the euro dropping to just above the 95-yen level, major exporter stocks also lost ground, with Sharp Corp. losing 3.2%, Pioneer Corp. down 3.8%, and Panasonic Corp. falling 2.5%. Some electronics-parts makers, however, outperformed following a Nikkei business daily report saying orders in the last quarter rose for the first time in well over a year. Alps Electric Co. rose 0.8% following the report, while TDK Corp. held losses to 0.2%.
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April Unemployment Rate Unchanged at 6.1 Percent: Date: 5/17/2013Information Contact 1: Bob Fick : (208) 332-3... http://t.co/BV4Pb9woo1 #
