Nikkei flat as market looks overbought, Apple suppliers underperform

martes 10 de noviembre de 2015 22:10 GYT
 

* Market awaits Chinese figures later in the day

* Apple suppliers underperform after brokerage says component orders cut

* Construction stocks higher on strong earnings

By Ayai Tomisawa

TOKYO, Nov 11 (Reuters) - Japan's Nikkei share average was nearly flat on Wednesday morning in directionless trade as investors stayed on the sidelines after signs that the market was overbought.

Investors remained cautious before the release of Chinese retail sales, industrial production, and urban investment data later in the day.

Apple Inc suppliers underperformed the market after Credit Suisse said the iPhone maker had reduced its component orders by as much as 10 percent.

The Nikkei average was flat at 19,674.16 in midmorning trade after closing at a 1-1/2 month high the previous day.

The benchmark has risen nearly 7 percent, or more than 1,000 points, over the past three weeks since the European Central Bank signalled further stimulus measures to come in as early as December, while China cut rates.   Continuación...