TOKYO, Jul. 3, 2009 (Xinhua News Agency) -- Tokyo stocks fell Friday on bleak U.S. and European unemployment data.
The benchmark 225-issue Nikkei Stock Average dropped 60.08 points, or 0.61 percent, from Thursday to 9,816.07.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 3.40 points, or 0.37 percent, to 920. 62.
Declines were led by pulp and paper, warehouse (OOTC:PWHSQ) , and sea transport issues. Major gainers included rubber product, consumer finance and auto issues.
The Tokyo market began the second half this year sluggishly, retreating three consecutive trading days, mostly on the news that the U.S. unemployment rate reached a 26-year high. The European figure also stood at a 10-year high.
The bleak job data raised concern that demand for shipping commodities and goods may drop, sending down sea transport issues. Mitsui O.S.K. Lines Ltd fell 3 percent, while Nippon Yusen K.K. slid 1 percent.
On the First Section, declining issues outpaced advancing ones 1,055 to 535, with 108 others remaining unchanged.
Seven & 1 Holdings Co., Japan's largest retailer which owns convenience store chain 7-Eleven, plunged 5 percent to close at 2, 190 yen, making it the worst performer on Tokyo market.
Another retailer, Fast Retailing Co. (OOTC:FRCOY) , the operator of Japan's Uniqlo casual clothing chain, fell 2.9 percent, after it said its June sales at 647 stores open for at least 12 months rose 6.4 percent with a 9.6 percent increase in customer traffic. The gain in sales was lower than market expectation and much less than the 18.3 percent in May.
Credit Saison fell 2.8 percent after the credit company's rating was lowered by a local analyst at Goldman Sachs Group Inc. (NYSE:GS)
Tire makers bucked the downward trend to continue the previous day's rise on positive investment ratings. Bridgestone advanced 29 yen, or about 2 percent, to 1,603 yen, while Toyo Tire & Rubber jumped about 3 percent.
Battery maker GS Yuasa, the day's value leader, rose 23 yen, or about 3 percent, to 883 yen. Volume leader Mizuho Financial Group (NYSE:MFG) dropped 2 yen, or about 1 percent, to 228 yen.
Trading volume on the main section shrank to 1,870.71 million shares from Thursday's 2,071.26 million.
The TSE's Second Section index lost 3.96 points, or 0.18 percent, to 2,219.43 on a volume of 82.88 million shares. On the Osaka Securities Exchange, the near-term September Nikkei 225 index futures contract was down 50 points to 9,840.
