TOKYO: Japan stocks fell from a one-month high on Wednesday morning as unsatisfactory US wages and weak US monetary data triggered profit-taking, whereas Sony Corp outperformed after sources said it will cut about 1,000 jobs.
The Nikkei was flat at 17,762.13 in mid-morning trade after opening 0.9 per cent lower. On Tuesday, it rose 1.7 per cent to its highest close since late December.
US stocks fell more than 1 per cent in the wake of poor results from Microsoft while heavy machinery maker Caterpillar gave an outlook below expectations, which dragged down Japanese construction equipment makers.
Komatsu Ltd and Hitachi Construction Machinery dropped 3.3 per cent and 2.2 per cent, respectively. But the Nikkei’s losses were being trimmed as US futures rose during Asian trade, a sign that US stocks will likely rebound the next trading day, analysts said.
