Nikkei slips from 1-mth high as U.S. earnings disappoint; Sony outperforms

martes 27 de enero de 2015 22:06 GYT

* Sony rises after report it will cut about 1,000 jobs
    * Komatsu, Hitachi Construction off on Caterpillar earnings

    By Ayai Tomisawa
    TOKYO, Jan 28 (Reuters) - Japan's Nikkei share average
retreated from a one-month high on Wednesday morning as
disappointing U.S. earnings and weak U.S. economic data
triggered profit-taking, while Sony Corp outperformed after
sources said it will cut about 1,000 jobs.
    The Nikkei was flat at 17,762.13 in mid-morning
trade after opening 0.9 percent lower. On Tuesday, it rose 1.7
percent to its highest close since late December.
    U.S. stocks fell more than 1 percent in the wake of poor
results from Microsoft while heavy machinery maker
Caterpillar gave an outlook below expectations, which
dragged down Japanese construction equipment makers.
    Komatsu Ltd and Hitachi Construction Machinery
 dropped 3.3 percent and 2.2 percent, respectively.
    But the Nikkei's losses were being trimmed as U.S. futures
rose during Asian trade, a sign that U.S. stocks will likely
rebound the next trading day, analysts said.
    The S&P futures gained 0.3 percent.
    Analysts also said sentiment was supported as the dollar
stayed relatively resilient against the yen during Asian trade. 
    "The recent U.S. earnings were disappointing, but the mood
is not too bad to the point where investors want to be entirely
risk averse," said Hikaru Sato, a senior technical analyst at
Daiwa Securities.
    The dollar was little changed at 118.00 yen, although it was
but off last week's high of 118.80 after soft spending data cast
doubts about the U.S. economic outlook.
    A gauge of U.S. business investment plans unexpectedly fell
in December. 
    Exporters were mixed, with Toyota Motor Corp 
falling 0.4 percent, Honda Motor Co dropping 1.9
percent, and Panasonic Corp rising 1.3 percent.
    Sony Corp soared as much as 2.8 percent after
sources told Reuters that it plans to cut another 1,000 jobs in
its smartphone business. 
    Index heavyweights also limited the Nikkei's losses.
SoftBank Corp and Fast Retailing Co rose 0.6
percent and 1.4 percent, respectively, and added a hefty 31
points to the index.
    The broader Topix shed 0.5 percent to 1,419.24 and
the JPX-Nikkei Index 400 declined 0.6 percent to

 (Editing by Richard Borsuk)