2013.06.2004:20:05UTC+00Japan stocks decline after fed; some auto shares gain

Japanese stocks retreated early Thursday after the Federal Reserve signaled an intention to scale down its bond purchases, although a weakened yen helped support the market. The Nikkei Stock Average surrendered 1% to 13,115.02 and the broader Topix skid 0.7% to 1,098.54, despite steep declines overnight on Wall Street. Real-estate stocks led the drop, with Sumitomo Realty & Development Co. missing 3.3% and Mitsubishi Estate Co. pulling 2.4% back. Shares of Nikon Corp. declined 2.4% and Fast Retailing Co. diminished 2.1%. But some automobile exporters inched up as the U.S. dollar jumped along with a rally in Treasury yields after the Fed decision. Shares of Honda Motor Co. recorded a 0.3% increase and Mazda Motor Corp. surged 1.6%.