Japan stocks lose ground as trade deficit widens

MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) -- Japanese stocks fell early Thursday, losing ground after trade data from the world s third-largest economy missed analyst expectations. The Nikkei Stock Average fell 0.7% to 14,669.48, and the broader Topix lost 0.5% to 1,212.15, with equities unable to find their usual support from weakening in the yen against the U.S. dollar . Among market heavyweights, shares of Honda Motor Co. declined 1.4%, while shares of Canon Inc. and Mitsubishi Heavy Industries Ltd. each gave up 1.3%. Japan s exports rose in January, but the 9.5% increase from the year-earlier period was below the forecast of a 12.5% rise produced by a Wall Street Journal survey. The trade deficit widened to a record ¥2.79 trillion ($27.2 billion) from December s ¥1.302 trillion. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.