Nikkei retreats from 1-week high; Toshiba, SoftBank down
TOKYO, Oct 31 (Reuters) - Japan's Nikkei eased from a one-week high on Thursday as investors found little comfort from some of the corporate earnings, with the likes of Toshiba Corp sliding 5.2 percent on concerns it relies heavily on NAND chips as an earnings driver. Honda Motor Co Ltd fell 1.3 percent as investors were disappointed that it kept its full-year earnings guidance and All Nippon Airways shed 4.7 percent after it almost halved its annual profit forecast, but personal-care maker Kao Corp gained 3.5 percent after robust earnings. Index heavyweight SoftBank Corp shed 2.9 percent ahead of its quarterly results after the market close. The Nikkei fell 1.2 percent to 14,327.94, giving up Wednesday's rise by a similar margin and breaking below its five-day moving average of 14,328.10. The index was down 0.9 percent in October but still up 38 percent so far this year. The broader Topix index was down 0.9 percent at 1,194.26, with 2.82 billion shares changing hands, down from a six-week high of 3.48 billion reached on Wednesday. The Bank of Japan kept monetary policy steady, encouraged by growing signs its aggressive stimulus is working its way through broader sectors of the economy.
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