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Thursday, 4th March 2010
In Business In Japan,

Japanese stocks fall for first time in days

The value of Japanese stocks has fallen for the first time in five days, following a strong yen and slow-moving economic recovery in the US.

The Nikkei 225 stock index fell by 107.42 points which ended a four-day run of rising values, while the Topix index also saw falls of almost one per cent.

Both falls followed the release of figures by the US central bank which suggested that the country's economy is taking some time to get back on its feet following the economic downturn.

Speaking to Forbes, Yutaka Shiraki, a senior strategist at Mitsubishi UFJ Securities, said: "Sentiment turned sluggish as the Federal Reserve hinted at the slow pace of a U.S. economic recovery."

Big Japanese firms including Sony and Mitsubishi saw falls in stock value, with the former seeing a drop of 1.1 per cent in its shares.

The falls are also being attributed to a report from the China Industrial Bank which suggested that new lending will remain anaemic for some time.

Written by Mark Smith.