* Nikkei up 0.4 pct in thin trade after slide on Wednesday
* Toyota, other battered shares rebound after U.S. stocks rise
* Isuzu falls after report to cut salaries of all workers
(Adds stocks, details)
By Aiko Hayashi
TOKYO, Dec 25 (Reuters) - The Nikkei share average rose 0.4
percent in holiday-thinned trade on Thursday, with Toyota Motor
Corp <7203.T> and other battered stocks rebounding after the U.S.
Dow snapped a five-day losing streak.
But Isuzu Motors Ltd <7202.T> fell nearly 2 percent after a
newspaper reported the Japanese truck maker plans to implement
temporary pay cuts for all of its 8,000 full-time workers in
Japan in response to a steep sales decline. The automaker denied
the report. []
"This is simply a rebound, and even small orders can
exaggerate market moves as the number of participants is so
small," said Tsuyoshi Segawa, an equity strategist at Shinko
Securities.
"The yen may be a bit softer against the dollar, but the
stock market is paying little attention to the currency market
now as it also lacks enough participants. Both markets are in the
holiday mood."
The benchmark Nikkei <> edged up 36.03 points to
8,553.13, after losing 2.4 percent the previous day.
The broader Topix <> gained 0.6 percent to 832.22.
U.S. trading ended at 1 p.m. (1800 GMT) on Wednesday for
Christmas Eve, with the Dow Jones industrial average <>
closing up 0.6 percent.
U.S. markets will be closed on Thursday for Christmas, and
they reopen on Friday.
Trade was thin on the Tokyo exchange's first section, with
462 million shares changing hands, compared with last week's
morning average of 898 million.
Advancing stocks outpaced declining ones, 918 to 626.
Analysts say trade will likely quiet down further towards the
year-end due to the suspension of some large stocks in connection
with the transition to a paperless share system in Japan to be
implemented on Jan 5.
Trade in 14 stocks listed on the Tokyo Stock Exchange
including NTT <9432.T> and Mizuho Financial Group <8411.T> is
suspended from Dec. 25 to Dec. 30 and will resume on Jan. 5,
according to the bourse.
TOYOTA UP, ISUZU SLIPS
Toyota gained 0.9 percent to 2,805 yen. The stock slid 4
percent the previous day after the world's biggest automaker
forecast its first-ever annual operating loss.
Rival Honda Motor Co <7267.T> gained 1.4 percent to 1,822 yen
and Nissan Motor Co <7201.T> rose 1.4 percent to 300 yen.
But Isuzu shed 1.8 percent to 107 yen.
"The auto sector will probably have some technical rebounds
here and there like today, but it will remain in the toughest
position of all for a while," said Soichiro Monji, chief
strategist at Daiwa SB Investments.
"I think the recovery of the U.S. economy will likely lag
behind that of the global economy and that would affect the auto
sector which largely depends on U.S. demand."
Other recent losers gained ground, with Japan's top lender
Mitsubishi UFJ Financial Group <8306.T> rising 1.3 percent to 540
yen. Sony Corp <6758.T> added 0.9 percent to 1,814 yen.
Besides Mizuho, banking shares subject to the trade
suspension include industry heavyweights Sumitomo Mitsui
Financial Group <8316.T> and Resona Holdings Inc <8308.T>.
Properst Co <3236.Q> tumbled 13.4 percent to 7,450 yen,
extending losses into a sixth straight day. The real estate
developer has lost about 45 percent of its market value since
Dec. 19 when it announced plans to cut 40 to 50 percent of its
workforce to reduce costs.
(Reporting by Aiko Hayashi; Editing by Chris Gallagher)
