Japan stock market week to Feb 16, 2009

Tokyo retreated in the week ended February 16 (four trading days only because February 11 was a national holiday in Japan), giving up most of  the gains made in the previous two weeks. The Nikkei 225 lost 2.7%,  while the Topix index was off 1.1%. Investors reaffirmed Japan's  economic slump, looking at an annualized 12.7% plunge in the  October-December 2008 Gross Domestic Product. Concern about the US  situation was another factor for the Tokyo market's pullback.  Participants worried that the US government's decision on the bank  rescue plan might require considerable time because specifics have not  yet been worked out, including the purchase prices of bad debt. The  pharmaceutical index edged down 0.3%, outperforming the market.