Japanese Shares Fall to Cap Second Weekly Decline on Oil, China
- Topix reverses early rally sparked by rebound in S&P 500
- Insurers and brokerages lead retreat while airlines advance
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Japanese stocks fell, capping its second weekly loss of the year, as oil prices failed to sustain a rebound and Chinese shares declined.
The Topix slid 0.3 percent to 1,402.45 at the close of trading in Tokyo, after jumping as much as 1.9 percent earlier in the trading day, with volume 24 percent above the 30-day average. The measure lost 3.1 percent this week amid high volatility after tumbling 6.5 percent the previous week. The Nikkei 225 Stock Average retreated 0.5 percent to 17,147.11 after the gauge fell below 17,000 for the first time since September on Thursday.