Nikkei flat after rally, ahead of US jobs figures
(Updates to midmorning)
TOKYO, April 3 (Reuters) - Japan's Nikkei average stayed flat on Thursday as investors locked in profits after a rally and ahead of U.S. jobs figures.
Toshiba Corp (6502.T) jumped 6 percent after the Nikkei business daily reported the company has won contracts to build four nuclear power plants in the United States worth about 1.4 trillion yen ($13.7 billion).
"Predictably there was profit-taking after yesterday's sharp gains," said Fumiyuki Nakanishi, group manager of investment research department at SMBC Friend Securities.
"The market is taking a wait-and-see stance ahead of U.S. jobs data on Friday. Bernanke's comments make me think the data will be bad," he said.
Federal Reserve Chairman Ben Bernanke conceded for the first time on Wednesday that the U.S. economy may slip into recession but said growth should pick up later this year as interest rate cuts and other emergency steps take root. [ID:nN02415454]
As of 0054 GMT, the benchmark Nikkei .N225 was up 1.81 points at 13,191.17. The broader TOPIX gained 0.1 percent to 1,283.37.
The Nikkei jumped to a one-month peak on Wednesday, with credit market fears easing after a capital boost by Lehman Brothers LEH.N and a write-down by Swiss Bank UBS AG (UBSN.VX).
Toshiba rose 5.9 percent to 778 yen, the top percentage gainer on the Nikkei.
Honda Motor Co Ltd (7267.T) fell 3.2 percent to 3,010 yen and Toyota Motor Co (7203.T) slid 2.5 percent to 5,110 yen, becoming the two biggest drag on the index.
Financial shares are mixed, with No.2 Mizuho Financial Group (8411.T) down 1 percent at 400,000 yen.
Oil and gas field developer Inpex Holdings Inc (1605.T) jumped 2.7 percent to 1.14 million yen after U.S. crude oil futures rose. (Reporting by Taiga Uranaka, Editing by Michael Watson)
