(Adds stocks and comment)
By Taiga Uranaka
TOKYO, Feb 8 (Reuters) - Japanese stocks fell on Friday, with
industrial robot maker Fanuc Ltd <6954.T> sold heavily after
weaker-than-expected core private-sector machinery orders.
Investors were holding back ahead of a three-day weekend,
with the market gyrating between positive and negative territory.
On the positive side, Japan Tobacco Inc <2914.T> and Mitsumi
Electric Co Ltd <6767.T> rose sharply as investors favoured
companies with solid earnings amid a darkening economic outlook.
"The market lacks direction ahead of the three-day weekend.
Investor are jumping on specific shares with news, but that does
not translate into overall moves," said Hiroaki Osakabe, fund
manager at Chibagin Asset Management. The market will be closed
on Monday for a national holiday.
He also said the Tokyo's relative calmness was also helped by
holidays in other Asian markets.
The benchmark Nikkei average <> ended the morning
session down 0.8 percent at 13,102.81. The broader TOPIX index
<> lost 0.9 percent to 1,293.98.
MACHINERY ORDERS
Fanuc fell 2.7 percent to 9,040 yen, becoming the top drag
on the Nikkei, after government data showed Japan's core
private-sector machinery orders fell a more-than-expected 3.2
percent in December. []
Tokyo stock exchange's machinery subsection <.IMCHN.T> fell
3.6 percent, the worst performer among 33 sectors.
Machine tool maker Okuma Corp <6103.T> and metal-processing
machine maker Amada Co Ltd <6113.T> both shed 9.9 percent, with
Okuma at 826 yen and Amada at 752 yen. Makino Milling Machine Co
Ltd <6135.T> lost 5.8 percent to 632 yen.
Japan Tobacco rose 3.9 percent to 607,000 yen after it
revised up its full-year operating profit forecast, citing the
expansion of its overseas cigarette business and the inclusion of
earnings by a frozen food firm it had acquired.
Japan Tobacco, the world's third-biggest cigarette maker,
lifted its operating profit projection for the year ending in
March by 4.2 percent to 422 billion yen ($3.93 billion).
Mitsumi Electric rose 3.1 percent to 2,815 yen after it
reported a 65 percent jump in group operating profit for the nine
months to December, helped by strong demand for components used
in Nintendo Co's <7974.OS> game machines.
Softbank Corp <9984.T> rose 2.1 percent to 2,175 yen after
the telecoms and Internet firm said on Thursday its quarterly
operating profit rose 9.1 percent from the previous year to 92.4
billion yen ($860 million). []
Kirin Holdings Co Ltd <2503.T> rose 4.4 percent to 1,735 yen
after the beer maker forecast 10 percent growth in annual profit
on Thursday, with price hikes and the acquisition of an
Australian food firm offseting a steep rise in raw material costs
and a flat beer market at home. []
Trade picked up on the Tokyo exchange's first section, with
1.2 billion shares changing hands, compared with last week's
morning average of 976.2 million.
Declining stocks beat advancers by 972 to 615.
