Nikkei slips as exporters down on yen, TDK weighs

Fri Jan 9, 2009 2:05am GMT
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(Updates to midday)

TOKYO, Jan 9 (Reuters) - Japan's Nikkei average slipped 0.9 percent on Friday as a stronger yen pushed exporters lower and grim news on profits and jobs from electronic components maker TDK Corp (6762.T: Quote, Profile, Research) dragged down tech shares.

Bleak December sales results from retailers fanned fears about the U.S. economy, helping pressure the dollar down towards 91 yen, with investors reluctant to move ahead of key U.S. jobs data due out later in the day and a holiday on Monday.

The benchmark Nikkei .N225 fell 83.70 points to 8,792.72 in seesaw trade that began in positive territory, while the broader Topix .TOPX lost 1.3 percent to 849.79 yen. (Reporting by Elaine Lies)

 
 

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