TOKYO, Sept 10 (Reuters) - The Nikkei share index edged
up on Wednesday, following gains on Wall Street, as traders
gauged economic data for signals of central bank policy shifts
in the United States and Japan.
Japan's Nikkei 225 Index climbed 0.3% to 43,604.15,
bouncing back from a 0.4% slide in the previous session. The
broader Topix added 0.2%.
The three main share indexes in the U.S. hit new record highs
overnight after a downward payrolls revision solidified
expectations the Federal Reserve will soon cut interest rates to
support the economy.
The path is less certain for the Bank of Japan as it eyes a
possible rate increase this year to rein in inflation but also
political uncertainty following the resignation of Prime
Minister Shigeru Ishiba.
The Nikkei surged to a record intraday high of 44,185.73 on
Tuesday before losing momentum and finishing in the red on the
day.
"The immediate focus remains on the 44,000 level," said
Nomura Securities strategist Chisa Matsuda. "As we approach that
threshold, profit-taking is expected, potentially weighing on
the upside."
On the plus side for Japan's economy, manufacturers'
sentiment was its best in more than three years, the Reuters
Tankan poll showed in a preview to the BOJ's own closely watched
survey due on October 1.
There were 88 advancers on the Nikkei against 136 decliners. The
largest gainer was Kansai Electric Power ( KAEPF ), up 6% after a
Financial Times report that activist investor Elliott Management
has become one of the top three shareholders in the company.
Fujikura ( FKURF ), a supplier to Apple ( AAPL ), was the No. 2
gainer with a 5.5% surge. Apple ( AAPL ) unveiled a slate of iPhones
overnight, holding prices steady as it contends with the effects
of tariffs.
The largest losers in the Nikkei were Mazda Motor ( MZDAF ),
down 2.9%, followed by Denso ( DNZOF ), which slumped 2.8%."