TOKYO, Oct 13 (Reuters) - Japanese shares seesawed on
Wednesday as investors nervously awaited U.S. consumer price
data due later in the day, while department store operator J.
Front Retailing jumped on positive earnings and hopes
of economic reopening.
By 0145 GMT, the Nikkei average was down 0.12% at
28,198.12, while the broader Topix lost 0.21% to
As strong U.S. CPI data could raise bets of
earlier-than-expected rate hikes by the Federal Reserve,
investors rotated out of cyclical shares with global exposure to
domestic demand-oriented shares that could benefit from economic
Red-hot shippers fell 2.6%, while steelmakers
lost 1.7%. Semi-conductor shares were also soft after
U.S. peers slipped to 2-1/2-month lows, with Screen
Holdings down 2.7% and Shin-etsu Chemical
"With the U.S. economy appearing to be slower than expected
and China growth outlook marred by Evergrande's debt problems,
investors are shifting to domestic demand-oriented shares," said
Masayuki Kubota, chief strategist at Rakuten Securities.
Film maker Toho gained 5.1% after reporting a jump
in profits thanks to the reopening of cinema and box-office
success of its animation film "Belle".
Department store operator J.Front Retailing rose
9.4% as it returned to net profit in the quarter to August after
two quarters of losses.
Rival Takashimaya also rose 1.3% even after it cut
its annual outlook due to weak demand.
Shift jumped 12.1% after the software testing firm
reported bumper earnings.
On the other hand, Nippon Paint tumbled 7.9% after
it cut earnings guidance due to rising costs as well as slow
sales to car makers, which are slashing production due to a chip
(Reporting by Hideyuki Sano; Editing by Subhranshu Sahu)