Copper prices fell 0.9%, nickel slipped 2.6% and zinc tumbled 3.1%. Nippon Mining Holdings declined 1.34%, Sumitomo Metal Industries edged down 1% and Nippon Steel shed 2.84%.

The U.S. Labor Department reported on Friday that the net new jobs in the December month rose 18,000 after gaining 115,000 in November. The unemployment rate increased to 5%. The economy generated 1.3 million jobs in 2007 far lower than target of 2 million by the current Bush administration. In 2006, 2.3 million net new jobs were created.

The Bank of Japan reported today that the country’s monetary base rose for the fifth consecutive month by 0.4% in December from a year ago. The amount of cash in circulation plus the balance of current account deposits held by financial institutions soared to 90.78 trillion in December.

Also, current account deposits slumped 11.2% to 8.22 trillion yen, while the outstanding balance of notes in circulation increased 1.7% to 78 trillion yen.

Of the Nikkei 225 index stocks Millea Holdings led advancers with a rise of 5.91% followed by rises in Toto Limited of 3.93%, in T&D Holdings Incorporated of 3.47%, in Kumagai Gumi Company of 3.23%, and in Sky Perfect of 3.17%.

Retailers also gained after Fast Retailing reported last week that December sales rose 6.4% from a year ago. Fast Retailing soared 3.07% and JFront Retailing spiked up 0.42%.

Sony Corporation gained after Time Warner said it will back the Blue-ray high definition video format to make DVDs instead of Toshiba Corporation’s format. Sony rose 0.69% as a result, while Toshiba dropped 2.25%.

Sumitomo Metal Mining led a decline of Nikkei 225 index shares with a fall of 6.62% followed by losses in Nippon Sheet Glass of 6.15%, in Alps Electric Company Limited of 5.92%, in Kawasaki Kisen of 5.78%, and in Tokai Carbon Company of 5.56%.

Shipbuilders fell on concern that weakening economic growth in the U.S. will affect demand of commodities. Mitsui OSK Lines dropped 4.89%, Hitachi Zosen shed 4.86% and Mitsui Engineering & Shipbuilding slipped 4.35%.

Exporters also declined after the yen gained 107.91 against the dollar. However, it closed at 108.93. Toyota Motor Corporation tumbled 4.83%, Komatsu Limited dropped 3.50% and Casio Computer edged lower 3.52%.

Nikkei news reported today that Mitsubishi Heavy Industries will reduce launch fees for its H-2A rockets by 35% to 60 million to 70 million yen next year to be competitive. The company also plans to cut time between orders and lift-off to a year.

The online publication of Nikkei news also reported Friday that investment fund Aetos Capital is bidding 930 billion yen for the takeover of Daito Trust Construction Company.

Rio Tinto reported in a statement to the Australian Stock Exchange that the company will pay $315 million for the construction of three 250,000 ton iron ore ships by Namura Shipbuilding Company. The vessels, which will increase exports of the ore and expand its fleet, will be delivered in 2012.

Aoen Corporation senior managing executive offficer Maasaki Toyoshima told a CFS shareholders meeting in Tokyo yesterday that the company might increase its 15% stake in the drugstore operator if it rejects a 15 billion yen takeover bid from Ain Pharmaciez Incorporated.

Aeon is seeking an additional 18% of voting rights to prevent the takeover. The company closed 2.49% down.


Asian Markets Round up

In Tokyo Nikkei 225 Index closed lower 190.86 or 1.30% to 14,500.55, in Hong Kong Hang Seng index closed decreased 340.20 or 1.24% to 27,179.49, in Australia ASX 200 closed lower 145.00 or 2.30% to close 6,161.60.

In South Korea Kospi Index close at decreased 32.76 or 1.76% to close at 1,831.14, in Thailand SET index closed lower 13.40 or 1.63% to 808.31, and Indonesia JSE Index edged increased 11.22 or 0.41% to 2,776.41. Sensex index in India closed higher 125.76 or 0.61% to 20,812.65.