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16 March 2004 09:17  Japan stocks slip on security fears, eyes on FOMC


Japanese stocks closed fractionally lower on Tuesday as investors ditched Tokyo Electron <8035.T> and other large-cap tech shares amid growing concerns about global security. They also held back ahead of a meeting of the U.S. Federal Open Markets Committee (FOMC). But the falls were capped by buying in retail and property shares, with more bright signs appearing in consumer spending, a major engine for the Japan's economy. The Nikkei average <.N225> slipped 0.67 percent to 11,242.29, while the broader TOPIX index <.TOPX> slipped 0.35 percent to 1,120.96.||
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