TOKYO, June 11 (Reuters) - Japanese shares inched down in
seesaw trading on Friday as technology stocks pulled back from
early gains, with investors remaining cautious about the pace of
domestic economic recovery.
The Nikkei share average inched down 0.06% to
28,939.16 by 0225 GMT, while the broader Topix was down
0.23% to 1,952.24.
"Japan's technology stocks are bought as the Nasdaq's gain
and the fall in U.S. interest rates lifted investor sentiment,"
said Jun Morita, general manager of the research department at
Chibagin Asset Management.
"But the market was weighed down by uncertainties. It's hard
for investors to decide to sell or buy when the Nikkei hovers
around the 29,000-level as they are not necessarily optimistic
about the Japanese market outlook."
Some market participants say it is still doubtful Japan's
economy will recover at the same pace as that in the United
States and other advanced nations due to the fourth wave of the
Yutaka Miura, a senior technical analyst at Mizuho
Securities, said concerns over potential tapering by the Federal
Reserve also weighed on investor sentiment.
Airlines declined the most, while financial firms
and real estate firms also fell.
Technology firms advanced, with a medical platform M3 Inc
rising 2.18%, Advantest gaining 0.48% and
Tokyo Electron edging up 0.17%.
Drugmaker Eisai jumped 7% after a sharp fall in the
previous session amid a volatile trade this week after U.S.
regulators approved of a drug developed by the firm and Biogen
for Alzheimer's disease.
Toshiba fell 1.48% after a report from independent
investigators said the conglomerate asked the trade ministry to
help counter activist investors at its annual general meeting
(Reporting by Junko Fujita; Editing by Ramakrishnan M.)