TOKYO, Jan 30 (Reuters) - Japan's Nikkei share average
reversed early gains on Friday and were on track for a second
straight weekly decline, as investors sold heavyweight
technology stocks to book profit.
The Nikkei fell 0.85% to 52,923.12 by the midday
break after rising as much as 0.4% earlier in the session. It
was down 1.7% for the week, but up 5.1% for the month.
The broader Topix slipped 0.25% to 3,536.26 on
Friday and was on course for a 2.6% weekly drop.
"Investors sold technology stocks to book profits today,"
said Takamasa Ikeda, a senior portfolio manager at GCI Asset
Management.
"The yen weakened against the dollar, and that could be
positive for stocks, but these days those two assets' moves are
not correlated."
Chip-testing equipment maker Advantest ( ADTTF ) fell 5.62%
after a seven-session winning run to drag the Nikkei the most.
Advantest ( ADTTF ) shaved 336 points off the Nikkei, which fell by 452
points.
Nomura Research tanked 15.87% to become the worst
percentage loser on the Nikkei.
"The market scooped up stocks with strong outlook," said
Shigetoshi Kamada, general manager at the research department at
Tachibana Securities.
Casio Computer ( CSIOF ) jumped 14.8% to become the top
percentage gainer on the Nikkei, after the calculator maker said
its annual net profit might double.
Fujitsu ( FJTSF ) gained 3.56% after the computer maker
raised its annual net profit forecast by 93%.
Of the more than 1,600 stocks trading on the Tokyo Stock
Exchange's prime market, 47% rose, 47% fell and 4% traded flat.
($1 = 153.5500 yen)
(Reporting by Junko Fujita; Editing by Subhranshu Sahu)