Nikkei’s gains unravel, sheds 2 pct on week as stimulus disappoints

Japan’s Nikkei share average gave up early gains and ended lower on Friday, capping a week marred by a strengthening yen and disappointment with central bank and government stimulus measures.

The Nikkei touching its session lows in the final minutes of trade before finishing down marginally at 16,254.45 points. It had ended morning trade up 0.3 percent.

But trade was cautious as investors warily awaited U.S. jobs data later in the session for direction.

The Nikkei lost 1.9 percent on the week after investors were underwhelmed by last week’s Bank of Japan easing steps and the government’s 13.5 trillion yen stimulus package unveiled on Tuesday. That offset the positive impact of some companies’ improved earnings.

The broader Topix ended down 0.2 percent at 1,279.90, while the JPX-Nikkei Index 400 slipped 0.3 percent to 11,511.57.

Source: Reuters