Nikkei falls on weakness in global shares, focus on U.S. jobs data

jueves 4 de junio de 2015 22:23 GYT
 

* Insurers drop after gaining early this week
    * Takata falls after sources say 400,000 airbag inflators
need to be replaced

    By Ayai Tomisawa
    TOKYO, June 5 (Reuters) - Japan's Nikkei share average fell
on Friday after U.S. and European shares languished, as
investors stayed cautious before  the release later in the day
of U.S. jobs data that might give a clue to the timing of an
increase in U.S. interest rates.
    The Nikkei 225 dropped 0.5 percent to 20,396.23 in
midmorning trade, moving away from a 15-year high of 20,655.33
hit nearly a week ago.
    Investors are focused on U.S. jobs data, expected to show a
225,000 gain in non-farm payrolls, according to a Reuters
estimate.
    Volatility in the European bond market continued to weigh on
investor sentiment although a sell-off in bonds paused. Global
bond yields swung wildly for a third straight session before
ending well below their highs.
    The Nikkei has gained 17 percent this year, outperforming
most of its global peers. The index had gained for 12 straight
gains through last Monday, stoking concerns that a significant
correction could be imminent. Still, some investors expect that
the Japanese market to rise further in the medium term, helped
by economic recovery hopes and prospects for higher corporate
profits.
    "Since the Japanese market is sensitive to global market
performances, investors are nervous because of recent volatility
in the global bond market," said Takuya Takahashi, a strategist
at Daiwa Securities. "Foreign funds which think they missed the
bus may still want to buy now, but a lot of people prefer to
stay on the sidelines."
    Sharp Corp fell 2.3 percent after Kyodo News
reported that the struggling electronics maker is set to post a
net loss of 180 billion yen in the fiscal year ending March
2016. 
    Takata Corp declined 1.6 percent after sources said
that at least 400,000 of the 4 million replacement inflators for
its defective air bags will need to be replaced again in U.S.
vehicles. 
    Insurers, which gained on higher yields early this week,
lost ground on profit-taking, with Dai-ichi Life Insurance
 falling 2.3 percent and Tokio Marine Holdings 
dropping 2.0 percent.
    The broader Topix dropped 0.7 percent to 1,662.39
and the JPX-Nikkei Index 400 shed 0.7 percent to
15,003.58.
    

 (Editing by Simon Cameron-Moore)