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Japan stocks dip as weak data weighs on sentiment

Tue Mar 4, 2008 9:08pm EST

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(Updates to midsession)

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TOKYO, March 5 (Reuters) - Japanese stocks dipped in see-saw trade on Wednesday as worse-than-expected company spending data dampened investor confidence about the domestic economic health, offsetting a jump by Fast Retailing Co Ltd (9983.T) on an upbeat earnings outlook.

Financial shares such as Mitsubishi UFJ Financial Group (8306.T) fell amid growing worries about domestic demand and lingering global credit market jitters.

The benchmark Nikkei average .N225 was down 0.2 percent or 27.87 points at 12,964.41 after moving in and out of negative territory throughout the morning session.

The broader TOPIX index was down 0.4 percent or 5.22 points at 1,260.44. (Reporting by Aiko Hayashi)

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