Nikkei falls as investors retreat ahead of Chinese economic data

lunes 20 de octubre de 2014 21:41 GYT
 

* Nikkei slips as investors step back after Monday's buying
    * Investors cautiously wait for China's growth figures
    * Fujifilm shares advance on Ebola drug announcement

    By Thomas Wilson
    TOKYO, Oct 21 (Reuters) - Japanese stocks skidded on Tuesday
as investors took a step back after the heavy buying seen on
Monday and nervously waited for data on the Chinese economy.
    The Nikkei share index fell 0.5 percent by 0127 GMT
to 15,026.47.
    Investors looked past solid advances on Wall Street
overnight, where investors were bouyed by hopes of a strong
earnings season, and the Tokyo bourse's strong performance on
Monday, when the Nikkei posted its biggest daily gain since June
2013.    
    "There's a real wait-and-see mood in the air.  Market
players are cautious," said Masayuki Doshida, senior analyst at
Rakuten Securities.  
    Data due at 0200 GMT is expected to show that China's
economy grew at its weakest pace since 2009 as a property
downturn drags on manufacturing and investment. 
    Worse than expected data would fuel speculation that
Communist Party leaders may implement major stimulus measures
such as an interest rate cut.   
    The Japanese steel, shipping and construction machinery
sectors, sensitive to fluctuations in the world's second biggest
economy, may be affected by the Chinese figures.    
    "Investors have been fearing bad news from China, and it
could hit the market," said Makoto Kikuchi, CEO of Myojo Asset
Management in Tokyo.
    Outperforming the market was Fujifilm, which gained
2.7 percent in early trade after it announced it was expanding
production of its Avigan anti-influenza drug, for possible use
in the fight against Ebola. 
    With the dollar flat at 106.79 yen, exporters' shares
were steady. Toyota Motor Corp was up 0.4 percent,
while Honda Motor Co Ltd lost 0.2 percent.    
    The broader Topix fell 0.2 percent to 1220.71, while
the new JPX-Nikkei Index 400 shed 0.3 percent to
11,107.89.

 (Reporting by Thomas Wilson; Editing by Alan Raybould)