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* Tokyo, Shanghai shares fall, Taiwan gains slightly
* Dollar hovers near recent highs in holiday-struck trade
* Japanese debt futures ease as budget, bond supply awaited
By Kaori Kaneko and Aiko Hayashi
TOKYO, Dec 25 (Reuters) - Shares in Tokyo slipped on Friday
as investors took profits in trade thinned by the Christmas break
in many other markets, while Shanghai fell and the dollar hung
near its highs of the month after goods and jobless claims data.
The Shanghai Composite Index <> had eased 0.2 percent by
0640 GMT, weighed down by caution over new share supply after
Anhui Xinhua Media Co said it would launch an initial public
offering next week, but stocks in Taiwan edged up <>. []
Japan's Nikkei average <> slipped 0.4 percent a day
after hitting a three-month closing peak, as high-tech exporters
such as Canon Inc <7751.T> that have led recent rallies ran out
of steam.
But the benchmark, which closed at 10,494.71, still ended 3.5
percent up on the week and has risen 18.5 percent so far this
year.
"Investors are taking profits as Japanese stocks have
rebounded sharply in a short period of time and amid investor
caution, with stock markets closed overnight around the world,"
said Kenichi Hirano, operating officer at Tachibana Securities.
Shares in Kirin Holdings <2503.T> rose 1.6 percent after a
newspaper reported the previous day that the beer maker and rival
Suntory Holdings [] are close to agreeing to a merger
ratio. []
Copier and digital camera maker Canon fell 1.7 percent to
3,950 yen after surging on Thursday following approval from EU
regulators for its takeover of Dutch firm Oce <OCEN.AS>.
Tokyo Electron Ltd <8035.T>, the world's No.2 semiconductor
equipment maker, slipped 1.7 percent to 5,880 yen while auto
maker Toyota Motor Corp <7203.T> shed 1 percent to 3,850 yen.
Venezuela's President Hugo Chavez this week threatened to
expel Toyota unless it produces an all-terrain model of a 4x4
vehicle used for public transport in poor and rural areas.
[]
Japan's broader Topix <> retreated 0.5 percent to
909.39.
Shares in Taiwan <> rose 0.11 percent to an 18-month
closing high, led by DRAM chip maker Nanya Technology <2408.TW>
and other memory chip makers on hopes of a demand pickup and
after the central bank kept interest rates at a record low of
1.25 percent on Thursday. []
Analysts said a fall in U.S. jobless claims had also
supported gains in some tech stocks.
New orders for long-lasting U.S. manufactured goods excluding
transport items surged in November and new applications for
jobless aid hit the lowest level in 15 months last week, pointing
to a firmly entrenched economic recovery. []
The data helped U.S. stocks to close at 2009 highs on
Thursday. The Dow Jones industrial average <> gained 0.51
percent, the Standard & Poor's 500 Index <.SPX> 0.53 percent, and
the Nasdaq Composite Index <> 0.71 percent.
The dollar was steady at 91.41 yen <JPY=> having hit a
two-month high of 91.88 yen this week as year-end closing of
short positions gave it a boost.
The rally has run out of steam but the dollar is still on
course for its best monthly performance against the yen since
February after hitting a 14-year low of 84.82 yen last month.
The euro steadied at $1.4380 <EUR=>, after falling as far as
$1.4218 this week, its lowest since early September, and is
heading for its worst monthly performance against the greenback
since January.
"After corporations' and hedge funds' dollar repatriation has
run its course, the dollar could weaken again next week," said
Jun Kato, a senior chief analyst at Shinkin Central Bank Research
Institute in Tokyo.
The U.S. Treasury Department auctions a total of $118 billion
worth of two-, five- and seven-year notes next week and yield
moves could give some direction to the dollar. []
"If there is no major turbulence in longer-dated U.S.
Treasury yields next week, the dollar could fall to the lower end
of 90 yen. But if yields spike, the dollar could rise to 92 yen,"
Kato said.
Japanese government bond futures <2JGBv1> ended down 0.15
point at 139.74 after touching their lowest levels for the week
ahead of expected approval by Japan's cabinet of a draft budget
for the fiscal year from next April 1.
Sources said this week that bond market issuance for fiscal
2010 was likely to be a record 145 trillion yen ($1.58 trillion),
posing a test for a market already forced to digest ever
increasing supply.
($1=91.51 Yen)
(Writing by Charlotte Cooper; Additional reporting by Lu Jianxin
and Ed Klamann in Shanghai, Faith Hung in Taipei and Shinichi
Saoshiro in Tokyo; Editing by Michael Watson)
