Nikkei falls after European shares tumble, China PMI hurts sentiment

jueves 2 de octubre de 2014 21:43 GYT

* Fast Retailing bucks weakness with strong Sept sales
    * China growth concern adds to sour sentiment
    * Market closely focused on U.S. jobs data

    By Ayai Tomisawa
    TOKYO, Oct 3 (Reuters) - Japan's Nikkei share average fell
on Friday after a sharp drop in European shares curbed risk
appetite and as China data hurt sentiment, but index-heavy Fast
Retailing Co rose after reporting strong monthly sales.
    Growth in China's services sector eased in September to an
eight-month low after new orders shrank for the first time in at
least a year, an official survey showed on Friday, adding to
worries that the economy was losing further
    Fast Retailing, which operates Uniqlo clothing stores, rose
1.2 percent and contributed 20 hefty points to the Nikkei after
the company said its September same-store sales jumped 20
percent on year due to strong winter clothes sales due to the
cool weather.
    The Nikkei share average fell 0.4 percent to
15,598.90 by mid-morning. On Thursday, it tumbled 2.6 percent as
disappointing global manufacturing activity stocked concerns
about global growth.
    For the week, the index has shed 0.4 percent.
    The European Central Bank did little to cheer investors on
Thursday after it gave no new hints of an imminent sovereign
bond buying programme and fell short of market expectations for
greater details on its plan to buy secured debt. 
    "We expect more drops in October," said Hiroyuki Nakai,
chief strategist at Tokai Tokyo Research Center.
    "Investors are concerned about global growth and a double
whammy of an impact from the end of Fed's quantitative easing
and the civil unrest in Hong Kong."
    He also said that the Tokyo market will likely remain
directionless for the rest of the day ahead of a closely watched
U.S. jobs report later in the day.
    Exporters were mixed, with Toyota Motor Corp 
falling 0.4 percent, Sony Corp dropping 0.5 percent and
Panasonic Corp rising 0.2 percent.
    The broader Topix dropped 0.1 percent to 1,278.15,
and the JPX-Nikkei Index 400 declined 0.2 percent to

 (Editing by Kim Coghill)