Shares in baby goods makers tumbled Wednesday on the Tokyo Stock Exchange after Princess Kiko gave birth to a baby boy, the first male heir born to the world's oldest hereditary monarchy since 1965.
On the news of the birth early in the morning, short-term speculators took profits on the stocks, which then plummeted after soaring in the past few weeks on expectations a royal baby would inspire an increase in the dwindling birthrate.
But some brokers said the sector's recent sharp gains were almost groundless, and that such short-lived enthusiasm could harm amateur investors.