Asia: Nikkei lower ahead of holiday
The Nikkei fell on Thursday, for a second day, with trading thin on the ground.
Most Asian markets were closed for a public holiday, including Hong Kong.
Japanese markets will be closed on Monday and Tuesday for the Golden Week holiday.
In company news Japanese banking stocks such as Mitsubishi UFJ Financial were down after the country's central bank lowered its growth forecasts. Mitsui Financial Group and Mizuho Financial Group also fell.
The Nikkei 225 Stock Average declined 83 points to close at 13,766.
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Property stocks came under pressure with shares in Mitsui Fudosan down despite an upbeat forecast for earnings this year, in line with market expectations. Sumitomo Realty & Development Co and Mitsubishi Estate also fell.
Shares in Kirin fell over 6% after it said yesterday that first quarter operating profit almost halved amid shrinking drink sales and rising material costs.
Utility giant Tokyo Electric fell after it revealed an annual loss yesterday on the back of surging fuel costs. Generator Okinawa Electric Power also fell.
Nippon Electric Glass was in demand after its earnings forecast yesterday. It said net income could rise almost 50% this year on the back of brisk demand and better productivity.
There was also a fair amount of caution in Japan ahead of a wave of big name earnings this month including Toyota and Sony.
