14 November 2005, 11:55  Japanese stocks fell

Japanese stocks fell slightly Monday after a three-day advance, hurt by declines in banking, auto and some technology stocks. The U.S. dollar rose above the 118 yen mark. The Nikkei 225 index shed 39.02 points, or 0.28 percent, to 14,116.04 on the Tokyo Stock Exchange. The broader TOPIX, which includes all issues on the exchange's first section, lost 14.14 points, or 0.95 percent, to 1,480.42. The Nikkei hit a 4 1/2-year high on Friday, as investors cheered data showing that the gross domestic product expanded at an annual pace of 1.7 percent in the July-September quarter. The fourth straight quarter of growth provided yet more evidence that Japan's economy is emerging from nearly 15 years of inconsistent growth. The Tokyo market's main index remained in positive territory for much of Monday's session, before investors took profits in banks, autos and a segment of tech stocks toward the closing bell. Among losers were Sumitomo Mitsui Financial Group Inc., which fell 2.75 percent to 1.12 million yen (US$9,491.53; euro8,102.03) and Mitsubishi UFJ Financial Group Inc. was down 2.00 percent to 1.53 million yen (US$12,966.10; euro11,067.90). Honda Motor Co. fell 0.81 percent to 6,260 yen (US$53.05; euro45.28) and major maker of electronics parts TDK Corp. lost 0.22 percent to 9,180 yen (US$77.80; euro66.41). The Nikkei initially got a boost from Wall Street, which advanced Friday on a continued slide in oil prices and healthy earnings from Dell Inc. The major indexes ended the week more than 1 percent higher, their third straight winning week. In currency trading, the U.S. dollar bought 118.04 yen on the Tokyo foreign exchange market at 3 p.m. (0600 GMT) Monday, up from the 117.97 yen it bought in New York late Friday. The euro rose to US$1.1768 from US$1.1704 late Friday in Tokyo. The yield on the 10-year Japanese government bond fell to 1.5200 percent, from Friday's close of 1.5650 percent. Its price rose 0.34 point to 99.82.

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