TOKYO, Oct 18 (Reuters) - Japanese shares closed slightly
lower on Monday, as investors booked profits following a recent
rally, although automakers gained after Toyota Motor hinted that
it could still hit its full-year output plan despite chip
Investors were also cautious on rising uncertainty on the
Chinese economy as debt-laden property firm China Evergrande
Group struggles for its survival and as the country's
GDP slowed in the third quarter.
The Nikkei share average inched down 0.15% to close
at 29,025.46, after posting its first weekly gain in four last
"A lot of investors would like to take profits when the
Nikkei is above 29,000. My feeling is they are also wary of
Evergrande's troubles ahead of its deadline to avoid default,"
said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust
The broader Topix lost 0.23% to 2,019.23 but Topix
transport equipment maker index rose 1.86% to reach
its highest levels since 2015.
Toyota Motor rose 2.22% after it cut its planned
global output for November by as much as 15% due to ongoing chip
shortages, but indicated it would ramp up production from
December by sticking to its latest full-year production target.
Peers Suzuki Motor rose 2.43%, while Subaru
added 1.95% and car part maker Denso gained
3.16% on a weaker yen.
Resource-related shares were another bright spot thanks to
the strength of commodity market. Mitsui Mining rose
5.23%, while Sumitomo Metal added 2.75% and oil
explorer Inpex gained 4.88%.
BayCurrent Consulting lost 14.31% as its solid
quarterly earnings fell short of strong investor expectations.
Its stock price is still up more than 130% so far this year. r.
Fintech start-up Money Forward tumbled 12.42% after
it reported larger-than-expected quarterly losses.
Pasona lost 7.76% after investors were underwhelmed
by the staffing service firm's quarterly results.
(Reporting by Hideyuki Sano, additional reporting by Junko
Fujita; editing by Uttaresh.V)