Nikkei falls on weaker U.S. shares; market awaits China data

jueves 23 de julio de 2015 21:34 GYT

* Nikkei has fallen 0.2 percent for the week
    * China PMI may determine Nikkei's direction later in the
day - traders
    * Shin-Etsu Chemical soars on strong results, dividend hike

    By Ayai Tomisawa
    TOKYO, July 24 (Reuters) - Japan's Nikkei share average fell
on Friday morning after dismal corporate earnings on Wall
Street, while some investors hugged the sidelines ahead of key
Chinese economic data due out later in the day. 
    The Nikkei share average rose 0.4 percent to
20,609.62 in midmorning trade. For the week, the index has shed
0.2 percent so far.
    U.S. shares fell after the likes of 3M, American
Express and Caterpillar disappointed the market
with weaker-than-expected earnings.
    Sentiment in the Japanese market should depend on the Markit
Flash China Manufacturing Purchasing Managers' Index (PMI),
which will provide the latest clue to the health of the world's
second-largest economy, analysts said. 
    The data is due out 0145 GMT.
    The Chinese stock market rout that wiped out as much as $4
trillion in share values at one point has rattled investor
confidence. Some investors are concerned the market meltdown
could hurt the economy, analysts said. 
    "Although the result may have little impact to the whole
Japanese market, companies which have big exposure to China such
as Fanuc Corp may be hit if the data is worse than
expected," said Takuya Takahashi, a strategist at Daiwa
Securities. "The market's mood will likely depend on the data
    On Friday, construction equipment makers underperformed due
to Caterpillar's sales declines in key markets. Komatsu 
fell 1.6 percent and Hitachi Construction Machinery 
shed 1.4 percent.
    Bucking the trend, Shin-Etsu Chemical jumped 4.1
percent after reporting strong April-to-June results and raising
dividend forecasts to 110 yen per share from the previous year's
100 yen per share for the year ending March 2016.
    Major exporters were mixed, with Toyota Motor Corp 
flat, Nissan Motor Co gaining 0.4 percent and Panasonic
Corp dropping 0.2 percent.
    The broader Topix fell 0.3 percent to 1,660.58 and
the JPX-Nikkei Index 400 declined 0.3 percent to

 (Editing by Ryan Woo)