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Japan Nikkei sheds early gains, trading firms up

Tue Jul 1, 2008 8:10pm EDT

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(Updates with opening)

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TOKYO, July 2 (Reuters) - Japan's Nikkei stock exchange opened up 0.2 percent on Wednesday after setting a nine-day losing streak the day before, with trading houses such as Mitsui and Co (8031.T) stronger on oil, but it soon shed the gains. Kirin Holdings Co (2503.T) slid after the Nikkei business daily said the Japanese brewer will likely report a 28 percent rise in its January-June profit, missing its own forecast of a 38 percent jump, due to weaker-than-expected growth at its soft drink unit.

At 0006 GMT the benchmark Nikkei .N225 was down 0.2 percent at 13,434, having shed 29.20 points. The broader Topix was nearly flat at 1,319.77. (Reporting by Elaine Lies)

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