* Apple suppliers weak after tech giant’s stock price dives
* Boeing suppliers fall in wake of jet maker’s tumble
By Ayai Tomisawa
TOKYO, Jan 28 (Reuters) - Japan’s Nikkei edged up on Thursday morning in choppy trade as a weaker yen boosted export-exposed stocks like automakers, cheering investors after the market opened lower under the influence of weak Wall Street performances overnight.
The Nikkei share average gained 0.2 percent at 17,196.30 by the midday break, after falling as low as 16,942.13 earlier.
Wall Street stocks had slipped after the U.S. Federal Reserve, kept interest rates unchanged, saying it was “closely monitoring” global economic and financial development. Though widely expected, the decision underlined the potential for future U.S. interest rate hikes.
As the dollar gained versus the yen, rising as far as 119.08 , exporter stock were in demand. Toyota Motor Corp and Nissan Motor Co both rose 0.8 percent.
Hit by falling oil prices and fears of slower economic growth in China, the Nikkei has fallen 10 percent since the beginning of the year, slipping to a 14-1/2 month low of 16,017.26 last week.
“It looks like the market has hit the bottom for now after assets which have been sold, such as oil and the dollar, rebounded,” said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
“But we still need to take our time to assess the market condition carefully,” he said. For investors, the next focal point will be the Bank Of Japan policy meeting, starting Thursday.
Meantime, Apple Inc suppliers underperformed in Tokyo. Shares in the tech giant fell 6.57 percent overnight after it reported its slowest-ever rise in shipments on Tuesday.
Apple suppliers Murata Manufacturing Co and Nitto Denko dropped 4.9 percent and 3.7 percent respectively.
Suppliers of Boeing Co also reflected the fortunes of their customer. After Boeing shares tumbled 8.9 percent overnight, Mitsubishi Heavy Industries and Kawasaki Heavy Industries shed 2.3 percent and 2.5 percent respectively.
Elsewhere, Alps Electric Co dived 15 percent after the electronic components maker cut its full-year profit outlook.
The broader Topix rose 0.3 percent to 1,404.27 and the JPX-Nikkei Index 400 also gained 0.3 percent to 12,661.50. (Editing by Kenneth Maxwell)