Japan's Nikkei falls ahead of US jobs data
TOKYO, Sept 6 (Reuters) -Japan's Nikkei share average traded lower on Friday as investors awaited key U.S. jobs data due later in the day, which will likely set the stage for an interest rate cut by the Federal Reserve this month.
The Nikkei .N225 was down 0.24% at 36,568.05 by the midday break, after opening 0.43% higher. The index is set to fall 5% for the week.
"It was hard to find reasons to buy stocks aggressively
ahead of the release of the non-farm payrolls data," said Jun Morita, general manager of the research department at Chibagin Asset Management.
Chip-making equipment maker Tokyo Electron 8035.T fell 2% to drag the Nikkei the most. Chip-testing equipment maker Advantest 6857.T lost 1.4% and air-conditioning maker Daikin Industries 6367.T slipped 4%.
Seven & i Holdings 3382.T fell 1.87%, after the retail giant said it had rejected Canada's Alimentation Couche-Tard's ATD.TO $38.5 billion cash bid for the company because the proposal was not in the interest of shareholders.
Sekisui House 1928.T touched a record high, after the Japanese housing maker raised its annual profit forecast on the robust U.S. housing business.
Sekisui House, which has been expanding its U.S. business, is likely to benefit from the potential U.S. rate cut, was last up 2.22% at 3,922 yen.
The broader Topix .TOPX fell 0.59% to 2,603.31, dragged lower by electronic appliance maker Hitachi 6501.T, which lost 4%. Toyota Motor 7203.T fell 1.64%.
The index is poised to fall 3.4% for the week.
Of more than 1,600 shares on the Tokyo Stock Exchange's prime market, 37% stocks rose and 58% fell, with 3% trading flat.
Reporting by Junko Fujita; Editing by Rashmi Aich
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