Nikkei falls on profit-taking, led by oil shares; Sharp soars on investment news

lunes 12 de octubre de 2015 22:02 GYT
 

* Lower oil prices hit oil shares, lift airline stocks

* U.S. earnings to determine market directions this week - analysts

* China trade data eyed

By Ayai Tomisawa

TOKYO, Oct 13 (Reuters) - Japan's Nikkei share average fell on Tuesday morning as profit-taking from last week's gains hit home and oil-related stocks were sold on lower oil prices.

Sharp Corp defied the weakness and surged as much as 10.1 percent after Reuters reported that a Japanese government-backed fund is considering a range of options to help turn around the struggling company - including direct investment.

The Nikkei dropped 1.0 percent to 18,247.25 in mid-morning trade after rising 4 percent last week.

Investors returned to the market after a three-day weekend in Japan due to a national holiday, and didn't waste their time selling oil-related stocks after oil prices tumbled on Monday. Inpex Corp fell 3.6 percent and Japan Petroleum Exploration Co shed 1.9 percent.

Trading houses were also lower, with Mitsubishi Corp shed 2.5 percent and Mitsui & Co dropped 2.2 percent.   Continuación...