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* Nikkei has fallen 0.3 pct for the week
* Fast Retailing contributes to Nikkei gains
By Ayai Tomisawa
TOKYO, Oct 14 Japan's Nikkei share average edged
up in choppy trade on Friday morning as index-heavyweight Fast
Retailing Co's strong gains offset negative sentiment from Wall
Street's weakness overnight.
Fast Retailing, owner of the Uniqlo casual-wear
brand, jumped 4.2 percent after saying on Thursday it expected
operating profit to jump 38 percent to a record high 175.0
billion yen for the year ending in August 2017.
Fast Retailing's good news contributed a hefty positive 58
points to the Nikkei.
The Nikkei opened a tad lower, but turned positive
in midmorning trade. At 0157 GMT, the index rose 0.2 percent to
16,809.55. For the week, it has fallen 0.3 percent.
U.S. stocks fell, hit by selling in financial stocks, while
investors have been worried about U.S. companies' third-quarter
earnings since Alcoa's dismal forecast disappointed the
market when earnings season began earlier this week.
"Until new catalysts emerge, investors will likely monitor
both U.S. earnings and Japan Inc's earnings," said Kazuhiro
Takahashi, an equity strategist at Daiwa Securities.
The Nikkei will likely rise and trade above 17,000 once the
market has priced in the results, Takahashi added, as well as
reflecting expectations of a U.S. rate hike in December.
Exporters were weak, with Toyota Motor Corp
shedding 0.2 percent, Honda Motor Co was down 0.4
percent and Panasonic Corp fell 0.05 percent.
But Fujitsu Ltd outperformed and rose 3.8 percent
after the Nikkei reported that the company had launched an
initial bidding round for the household internet operations of
its Nifty subsidiary.
The broader Topix fell 0.1 percent to 1,340.9 and
the JPX-Nikkei Index 400 was down 0.2 percent
percent to 112980.32.