Japanese shares declined Friday despite moves by central banks to spur growth as export-oriented issues were down on the yen's rise against the euro, according to dpa. The benchmark Nikkei 225 Stock Average lost 59.05 points, or 0.65 per cent, to trade at 9,020.75 while the broader-based Topix index was down 4.54 points, or 0.58 per cent, at 771.83. For the week, the Nikkei edged up 0.16 per cent and the Topix was up 0.21 per cent. Investors took to the sidelines ahead of the release of US employment data late in the day. Exporters were down as the yen climbed against the euro, standing at the upper-98-yen level to the European currency. A stronger yen makes Japanese goods more expensive overseas and erodes repatriated revenues. Shares in Canon Inc plunged 2.5 per cent, construction machinery maker Komatsu Ltd lost 0.36 per cent, Panasonic Corp fell 0.32 per cent, Honda Motor Co shed 0.7 per cent and Nissan Motor Co was down 0.53 per cent On Thursday, the European Central Bank cut borrowing costs by 25 basis points to an historic low of 0.75 per cent, the Bank of England pumped an additional 50 billion pounds (78 billion dollars) into Britain's economy and the Peoples Bank of China lowered its lending rate to 6 per cent. Despite the moves, the Dow Jones Industrial Average declined 0.36 per cent. On currency markets at 3 pm (0600 GMT) in Tokyo, the dollar traded at 79.90-91 yen, up from Thursday's 5 pm quote of 79.66-67 yen. The euro was quoted at 1.2382-2385 dollars, down from 1.2522-2523 dollars late Thursday, and at 98.94-95 yen, down from 99.75-79 yen.
