Japan stocks pull lower, with Seiko sliding

MarketWatch.com - MarketPulse LOS ANGELES (MarketWatch) - Japanese stocks declined as trading started on Thursday, with the export-heavy market feeling the weight of the yen as it held to recent gains against the U.S. dollar around the ¥102.45 level. The Nikkei Stock Average fell 0.3% to 14,754.71, and the broader Topix lost 0.3% to 1,216.26. Hit hard were shares of Seiko Holdings Corp. , falling 9.6% after the electronics-devices maker forecast fiscal year profit of ¥9 billion ($87.8 million), which is below expectations of ¥12 billion in profit. Sony Corp. shares shed 1.8%, stepping back from their 3.7% gain in the previous session following a Nikkei newspaper report that Sony may double its supply of camera sensors to Apple Inc. when a new iPhone is released as early as next year. 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.