Japan's Nikkei posts weekly fall amid domestic election jitters
Corrects Wei Li's designation in paragraph 8
By Brigid Riley
TOKYO, Oct 25 (Reuters) -Japan's Nikkei share average marked a second week of declines on Friday as investors weighed the risk outlooks ahead of a domestic election that could see the ruling party lose its majority.
The Nikkei .N225 closed 0.6% lower at 37,913.92, posting a 2.7% loss for the week.
The broader Topix .TOPX finished down 0.7% at 2,618.32.
The markets have been on edge as recent opinion polls suggest voters could end the Liberal Democratic Party's over decade-long dominance on Sunday, forcing the ruling party into power-sharing deals that may undermine the country's leadership.
"That's basically the scenario for 'sell Japan'," with investors considering various scenarios on how such an outcome could impact the fiscal and monetary policy outlook, said Naka Matsuzawa, chief macro strategist at Nomura Securities.
The losses were widespread as investors adjusted positions on Friday, the last day of trading before votes are counted on Oct. 27. Of the Nikkei's 225 constituents, 176 declined, while only 48 advanced. One was untraded.
All 33 industry sectors were in the red, led by the shipping sector's .ISHIP.T 3.6% decline.
Wei Li, head of multi-asset investments for China at BNP Paribas,expects Japanese markets could react positively if the LDP-Komeito coalition secured a simple majority. Failing to do so, however, could heighten volatility.
"The extent of the market reaction would depend on how far below 233 seats they fall. Losing an outright majority could spark more severe turmoil," he said.
Among major shares, chip-testing equipment maker Advantest 6857.T tumbled 2.9% to weigh the most on the Nikkei.
Uniqlo parent firm Fast Retailing 9983.T shed 0.7%, staffing agency Recruit Holdings 6098.T lost 2.4% and video-game maker Konami Group 9766.T dropped 2.8%.
The largest percentage losses in the Nikkei were Sumitomo Pharma 4506.T down 6.3%, followed by shippers Kawasaki Kisen Kaisha 9107.T losing 4.3% and Nippon Yusen KK 9101.T down by 3.8%.
Reporting by Brigid Riley; Editing by Savio D'Souza and Janane Venkatraman
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