REFILE-Nikkei edges down as weak yen trend pauses; majors' earnings awaited

martes 5 de agosto de 2014 02:17 GYT
 

(Fixes spelling error in first paragraph)
    * Nikkei finds support at 15,400 - technical analyst
    * Toyota, Sapporo, Daikin scheduled to report results after
close

    By Ayai Tomisawa
    TOKYO, Aug 5 (Reuters) - Japan's Nikkei share average edged
down in choppy trade on Tuesday morning, extending its declines
into a fourth day as the weak yen trend paused, while the market
awaited clues from Japanese corporate earnings such as Toyota
Motor Corp.
    The Nikkei dropped 0.2 percent to 15,440.25 in mid-morning
trade after flirting with positive territory. The index dropped
0.3 percent on Monday hit by concerns over Argentina's default
and Portuguese banking problems.
    Analysts said that investors are relieved after Portugal's
decision to rescue Banco Espirito Santo and earnings
from Warren Buffett's Berkshire Hathaway .
 
    "The impact from negative news overseas hit Japanese shares,
but because the Nikkei has been supported above 15,400, there
may not be a serious correction," said Hikaru Sato, a senior
technical analyst at Daiwa Securities.
    He said that investors are focused on individual Japanese
companies' earnings for the time being.
    Isuzu Motors Ltd soared 5.4 percent after the truck
maker's April-June earnings showed solid progress towards its
six-month forecast through September.
    Bucking the trend, Japan Steel Works tumbled 7.3
percent after the company's April-June operating profit fell
68.8 percent to 385 million yen ($3.75 million).
    Exporters were mixed, with Honda Motor Co falling
0.3 percent, Panasonic Corp dropping 1.0 percent and
Nikon Corp rising 0.3 percent.
    The dollar was in a holding pattern against the yen, trading
at 102.56, having touched a near four-month high of
103.15 last week. 
    On Tuesday, companies including Toyota, Sapporo Holdings Ltd
 and Daikin Industries Ltd will report their
quarterly results after the market close. 
    The broader Topix fell 0.3 percent to 1,272.87, and
the JPX-Nikkei Index 400 dropped 0.3 percent to
11,585.85.    
($1 = 102.5900 Japanese Yen)

 (Editing by Eric Meijer)