Nikkei snaps 4-day winning streak on profit-taking, digests U.S. job data

domingo 6 de marzo de 2016 22:28 GYT

* Investors continue to focus on macro data, including Japan GDP

* Sharp soars as market expects Foxconn's deal this week

By Ayai Tomisawa

TOKYO, March 7 (Reuters) - Japan's Nikkei share average fell on Monday morning, snapping a four-day winning streak as investors remained cautious after the market rebounded sharply last week, while the market quickly digested Friday's U.S. jobs data.

The Nikkei fell 0.6 percent to 16,920.01 in midmorning trade, after rebounding 5.1 percent last week.

Analysts said that investor risk appetite had returned since oil prices rebounded and the yen's strengthening had paused, but profit-taking from last week's rally would likely keep the market under pressure on Monday.

Mining shares, which had soared in the past four days, languished. Inpex Corp fell 1.9 percent and Japan Petroleum Exploration Co shed 0.6 percent.

Bank stocks had a weaker tone, with Mitsubishi UFJ Financial Group falling 0.5 percent, Mizuho Financial Group shedding 1.7 percent and Sumitomo Mitsui Financial Group sliding 0.2 percent.

Exporters were mixed. Toyota Motor Corp fell 2.1 percent, Honda Motor Co dropped 0.5 percent and Panasonic Corp rose 1.0 percent.   Continuación...