TOKYO, June 7 (Reuters) - Japan's Nikkei share average
edged lower on Friday, dragged down by technology stocks, as
investors sought further direction from a key U.S. jobs report
due later in the day and central bank meetings in the United
States and Japan next week.
The Nikkei had eased 0.11% to 38,661.04 by the
midday break, but was up 0.45% for the week.
The broader Topix inched down 0.04% to 2,756.02 and
was set to post a 0.6% loss for the week.
"It was hard for investors to actively buy stocks ahead of
key data and events," said Jun Morita, general manager of the
research department at Chibagin Asset Management.
"Particularly, the market was cautious about what sort of
message the Bank of Japan (BOJ) would send when the global
central banks are on track for rate cuts."
The U.S. non-farm payrolls report due at 1230 GMT is
expected to provide clues on the timing of Federal Reserve
interest rate cuts.
Overnight, the European Central Bank (ECB) cut interest
rates for the first time in nearly five years. The Bank of
Canada pipped the ECB to become the first G7 country to cut
rates in this cycle on Wednesday.
Among individual stocks in Tokyo, Shionogi ( SGIOF ) tanked
14% after the company said its weight-loss drug failed to
achieve the weight-loss target rate of 5% in a test.
Chip-related stocks Tokyo Electron ( TOELF ) and Advantest ( ADTTF )
fell 0.78% and 2.29%, respectively. Technology investor
SoftBank Group slipped 0.48%.
The brokerage sector fell 1% to become the worst
performer among the Tokyo Stock Exchange's 33 industry
sub-indexes. The drug sector lost 0.91%.
Lasertec ( LSRCF ) jumped 6.29%. It had earlier declined 9%
for the week amid an allegation of improper accounting practices
raised by Scorpion Capital, which the microchip equipment maker
denied.
Of the 225 stocks on the Nikkei index, 125 rose and 97 fell
with three flat.