Nikkei drifts lower ahead of Greek vote, Fast Retailing slides

jueves 2 de julio de 2015 23:00 GYT

* Nikkei slips 0.4 pct, Topix dips 0.1 pct
    * Fast Retailing slides after June drop in Uniqlo sales
    * Cross-shareholding reduction plan lifts SMFG

    By Shinichi Saoshiro
    TOKYO, July 3 (Reuters) - Japan's Nikkei share average
drifted lower on Friday as caution ahead of a Greek national
vote over the weekend suppressed investors' appetite for risk,
with Fast Retailing Co sliding after it reported a drop in
domestic sales.
    The Nikkei share average lost 0.4 percent to
20,431.25 by mid-morning, weighed down by Wall Street's tepid
performance overnight after U.S. non-farm payrolls data that was
not quite as strong as expected.
    Still, a relatively calm view towards the pending Greek
referendum limited the Nikkei's fall.
    "Some see the Greeks supporting fiscal austerity on Sunday.
If they do support austerity, equities will likely rise next
week, and such a possibility is curbing the selling today," said
Tsuyoshi Nomaguchi, a strategist at Daiwa Securities in Tokyo.
    Greek voters will head to the polls on Sunday to either
accept or reject an international bailout deal, a step that
could decide the future of their cash-strapped country's place
in Europe. 
    Fast Retailing was down 4 percent after it said on
Thursday that same-store sales at its Uniqlo clothing outlets in
Japan fell 11.7 percent in June from a year earlier.
    Sumitomo Mitsui Financial Group rose 2.2 percent
after a report that it will create targets by this fall to
reduce cross-shareholdings.
    Sumitomo Mitsui Financial's gains were positive for other
banking shares such as Mizuho Financial Group Inc,
which rose 1.3 percent, and Mitsubishi UFJ Financial Group
, which climbed 0.9 percent.
    The broader Topix fell 0.1 percent to 1,646.13. The
JPX-Nikkei Index 400 shed 0.1 percent to 14,867.92.

 (Editing by Edmund Klamann)