Nikkei drops on profit-taking in Olympics-related shares; NTT DoCoMo up

Thu Sep 5, 2013 10:01pm EDT

* Nikkei falls 0.9 pct, Topix down 0.7 pct
    * Real estate and construction sectors lead losses
    * NTT DoCoMo up on iPhone hopes
    * Many investors await U.S. jobs data, Olympics fate

    By Tomo Uetake
    TOKYO, Sept 6 (Reuters) - Japan's Nikkei average fell on
Friday, snapping a four-day winning streak, hit by profit-taking
in the real estate and construction sectors as investors awaited
U.S. jobs data later in the day and a decision on the country's
Olympic bid.
    The benchmark Nikkei fell 0.9 percent to 13,942.11
by mid-morning after advancing 0.1 percent to 14,064.82 on
Thursday. It rose 5.1 percent over the past four trading days. 
    "Investors have quickly moved to lock in profits as Madrid
was reported as a favoured candidate for the Olympic bid," said
Kyoya Okazawa, head of global equities and commodity derivatives
at BNP Paribas in Tokyo.
    "Since real estate and construction shares recently gained
on hopes that Tokyo will win the race to host the 2020 Summer
Olympics, it's only natural that some investors want to close
the game now. I won't be surprised if the Nikkei shed 2 percent
later in the session."
    Spanish newspaper El Mundo on Thursday published names of up
to 50 International Olympic Committee members who were going to
vote for them.
    Tokyo is competing against Madrid and Istanbul in the race
to host the Games, and a decision is expected on Saturday.
    The real estate sector fell 2.3 percent and was
the worst sectoral performer. Mitsui Fudosan Co, which
is a leading developer in the Tokyo Bay area and has a number of
buildings containing hotels, slumped 2 percent.
    Its peers Mitsubishi Estate Co Ltd and Tokyo
Tatemono Co Ltd dropped 1.5 percent and 2.9 percent,
respectively.
    Among the construction sector, Taisei Corp, which
is the likely contractor for the new National Stadium, slumped
5.2 percent. Rivalling Kajima Corp, Obayashi Corp
 and Shimizu Corp falling between 3.2 percent
and 3.5 percent.

    NTT DOCOMO OUTPERFORMS ON IPHONE HOPES
    Bucking overall weakness, NTT DoCoMo Inc briefly
climbed as much as 3.8 percent to a 3-1/2-month high after
sources familiar with the matter said Japan's largest mobile
carrier will begin selling Apple Inc's iPhone as early
as this autumn. 
    DoCoMo has been the only major mobile carrier in Japan that
does not offer the iPhone. The stock last traded 0.3 percent
higher on the day and was the most traded stock on the main
board.
    The news weighed on shares of rivals KDDI Corp and
SoftBank Corp, which already offer iPhones, as they
have been chipping away at DoCoMo's market share. SoftBank lost
2.2 percent, while KDDI eased 0.3 percent.
    The broader Topix was down 0.7 percent to 1,149.66.
Trading was fairly light by mid-morning, with volume on the
Topix at 28.6 percent of its full daily average for the past 90
days. 
    The benchmark Nikkei is up 34 percent this year, but is down
13 percent since its May peak.
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