TOKYO, Dec 6 (Reuters) - Japan's Nikkei share average
slipped on Friday, with investors locking in profits after four
days of gains and ahead of a key U.S. jobs report later in the
day.
Chip-sector stocks were stand-out losers, dragged down by
declines in Wall Street peers overnight.
The Nikkei shed 0.9% to 39,042.59, at the midday
recess, after dipping to just six points above the psychological
milestone of 39,000.
The broader Topix, which has a lower concentration
of tech shares, declined 0.65%. A sub-index of growth stocks
dropped 0.79% vs a 0.52% retreat in value stocks
.
Chip-testing equipment maker Advantest ( ADTTF ), an Nvidia
supplier, sagged 3.18% to lose the most points on the Nikkei.
Chip-making machinery giant Tokyo Electron ( TOELF ) lost 2.66%.
However, the Nikkei remains about 2.1% higher for the week,
after tracking Wall Street's rally to record highs.
"After four consecutive days of gains, caution in the market
is increasing," said Kazuo Kamitani, an equities strategist at
Nomura.
"More and more investors are stepping back to wait for the
U.S. payrolls report."
Monthly non-farm payrolls data will be carefully parsed
later in the day for fresh indications of the Federal Reserve's
interest rate path, with market-implied odds currently at around
73% for a quarter-point reduction on Dec. 18.
Meanwhile, a stabilization in the yen exchange rate at
around 150 per U.S. dollar boosted automakers, who had
been pushed to multi-year lows in some cases on the currency's
rapid climb to a nearly two-month high earlier this week.
Nissan ( NSANF ) gained 2.09% and Mazda ( MZDAF ) rose 1.54%.
Toyota ( TM ) was an outlier, with a 0.19% decline.
Airlines were the top performers among the Tokyo
Stock Exchange's 33 industry groupings, gaining 0.67% amid
depressed crude oil prices.