(Adds stocks, details)
*Nikkei takes aim at 12-day losing streak, longest since 1954
*High-tech shares slide after falls in U.S. peers
*Trade thin, U.S. markets closed
By Elaine Lies
TOKYO, July 4 (Reuters) - Japan's Nikkei stock average edged
down 0.3 percent on Friday, taking aim at the longest losing
streak in more than half a century, with high-tech shares such as
Tokyo Electron Ltd <8035.T> sinking in the face of general
economic pessimism.
Paper shares extended losses on high oil prices after oil set
a new record of more than $145 a barrel and general selling
emerged across a broad range of sectors, though gains in
machinery such as Komatsu Ltd <6301.T> help brake further falls.
But with a slew of big events over and U.S. markets closed on
Friday for Independence Day, investors were searching for
direction and the market was moving more according to
share-specific factors than any comprehensive market factors.
Market players said reassurance in the market sparked by U.S.
shares having dodged several potential bullets on Thursday,
including jobs data that was in line with forecasts, was offset
by a grim longer-term outlook.
"Basically the fact that the dollar held its own after the
European Central Bank move and jobs came in as expected helped
reassure the market a bit," said Hiroaki Osakabe, a fund manager
at Chibagin Asset Management.
"But with so many factors in the U.S. so poor, people can't
really be optimistic."
The dollar rallied on Thursday after jobs data suggested the
U.S. job market and economy were not as badly off as many had
feared, while the European Central Bank president struck a less
aggressive tone on prospects for interest rate hikes.
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The benchmark Nikkei <> fell 40.87 points to 13,224.53,
heading for its longest losing streak since a 15-day period in
1954. The broader Topix <> was down 0.2 percent at 1,295.80.
"While the Nikkei appears to be headed for a 12th straight
day of losses, the actual percentage amount of the fall is not so
great, so the length of the losing streak shouldn't really be
made that much fuss over," Osakabe added.
But other market players said the extended fall -- which will
be the longest since a 15-day losing streak in 1954 -- had
complicated matters.
"While there is a sense that the market's fallen too far,
there's no reason to buy in this situation and no especially
attractive sectors," said Toshio Sumitani, general manager at
Tokai Tokyo Securities.
HIGH TECHS HIT
High tech shares were among the biggest drags on the Nikkei
225 by volume weight after their U.S. peers fell, with the
Philadelphia Semiconductor Index <.SOXX> down 1 percent.
Tokyo Electron <8035.T> lost 1.9 percent to 5,840 yen and
Advantest Corp <6857.T> slid 2 percent to 2,175 yen.
Pharmaceutical shares also fell, with Takeda Pharmaceutical
Co Ltd <4502.T> shedding 2.8 percent to 5,270 yen and Astellas
Pharma Inc <4503.T> down 0.7 percent at 4,520 yen.
Oji Paper <3861.T> extended losses, sliding by 1 percent to
492 yen, while Mitsubishi Paper Mills Ltd <3864.T> lose 1.4
percent to 276 yen.
But losses were offset by gains in Komatsu, which rose 2.5
percent to 2,840 yen after the Nikkei business daily said the
earth-moving equipment maker's operating profit is likely to have
risen 7 percent to about 85 billion yen for the April-June
quarter, a first-quarter record, thanks to strong demand for
construction equipment in emerging countries.
Kubota Corp <6326.T>, the top manufacturer of farm equipment,
climbed 3 percent to 745 yen.
Trade was light on the Tokyo exchange's first section, with
757 million shares changing hands, compared with last week's
morning average of 848 million.
Declining stocks and advancing ones were evenly divided by
773 to 764.
(Editing by Sophie Hardach)
