Nikkei down 0.2 pct as drugs down, Citi results eyed

Thu Apr 17, 2008 10:09pm EDT
 
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(Updates to midday)

TOKYO, April 18 (Reuters) - Japan's Nikkei average slipped 0.2 percent on Friday after a three-day winning streak and as investors stayed on the sidelines ahead of Citigroup's (C.N) earnings results.

Exporters such as Canon Inc (7751.T) rose on a softer yen and receding pessimism about U.S. corporate profits after Google Inc (GOOG.O) reported solid earnings, while defensive issues such as drugmakers fell out of favour amid improving investor confidence.

The benchmark Nikkei average .N225 fell 23.09 points to end the morning session at 13,375.21. It gained 3.7 percent over the past three days.

The broader TOPIX index shed 0.2 percent or 3.04 points to 1,290.28. (Reporting by Aiko Hayashi)

 

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