Japan stocks halt winning run in thin trade
(Updates to midmorning)
TOKYO, Dec 27 (Reuters) - Japanese stocks snapped a four-day winning streak on Thursday as investors locked in profits in recent gainers such as Mitsui Fudosan Co Ltd (8801.T) and other property firms after a flat finish on Wall Street and in holiday-thinned trade.
Energy shares such as Inpex Holdings Inc (1605.T) were in favour after oil hit a one-month high.
The benchmark Nikkei average .N225 looks set to finish 2007 in negative territory for the first time in five years as Japanese stocks struggle in the shadow of booming markets and vibrant economies elsewhere in Asia.
"Trade is very thin and that's why profit-taking is having quite a bit of an impact in bringing down the market," said Norihiro Fujito, general manager of Mitsubishi UFJ Securities' investment research and information division.
"It's not as if there was a huge sell-off in the market."
As of 0050 GMT, the Nikkei was down 0.5 percent or 70.95 points at 15,582.59. It finished Wednesday up 0.7 percent at 15,653.54, its highest close since Dec. 12.
The broader TOPIX index shed 0.6 percent or 8.23 points to 1,500.24.
Shares of Mitsui Fudosan lost 2.4 percent to 2,455 yen, while Sumitomo Realty & Development Co Ltd (8830.T) declined 2.1 percent to 2,830 yen and Mitsubishi Estate Co Ltd (8802.T) fell 1.6 percent to 2,705 yen.
Other recent winners such as shippers also dragged on the market.
Nippon Yusen KK (9101.T) shed 1.4 percent to 902 yen, Mitsui O.S.K. Lines Ltd (9104.T) fell 1.6 percent to 1,465 yen and Kawasaki Kisen Kaisha Ltd (9107.T) gave up 0.9 percent to 1,150 yen.
Shares of Inpex were up 0.8 percent at 1.24 million yen. (Reporting by Aiko Hayashi, Editing by Michael Watson)
