* Profit-taking weighs; shippers fall, JAL drops
* Little impact from Y7.2 trln stimulus news - analysts
* Resistance near 10,200, which is top of Ichimoku cloud
By Aiko Hayashi
TOKYO, Dec 8 (Reuters) - Japan's Nikkei average slipped 0.3
percent on Tuesday, poised to snap a six-day winning streak, with
profit-taking and an advance in the yen against the dollar eating
away at gains made by exporters such as Canon Inc <7751.T>.
Nippon Yusen <9101.T> and other shipping firms dropped after
the Baltic Exchange's main sea freight index <.BADI>, which
tracks rates to ship dry commodities, fell for the first time in
four days on Monday.
Market players said they saw little impact on the stock
market from the government's announcement of a 7.2 trillion yen
($81 billion) stimulus package, up slightly from its original
plan to spend 7.1 trillion yen.
The package includes extended subsidies for energy-efficient
cars and household appliances. []
"The market is going through an adjustment, which is natural
considering the Nikkei gained more than 10 percent last week,"
said Masaru Hamasaki, a senior strategist at Toyota Asset
Management.
"The stimulus news had been mostly factored in as the
increase was almost due to pressure from the market... Political
uncertainty will likely continue to be a focus and if that
becomes more apparent, it will likely weigh on the market."
The spending -- which amounts to about 1.5 percent of GDP --
will not involve large-scale new debt issuance as Prime Minister
Yukio Hatoyama is keen to avoid his administration being seen as
lacking fiscal discipline.
But a coalition party led by outspoken banking minister
Shizuka Kamei is likely to keep up calls for larger and
debt-financed spending when the government compiles the budget
for the fiscal year that starts in April.
The benchmark Nikkei <> fell 29.77 points to 10,137.83,
a day after hitting a six-week closing high in the last of six
days of rises that took the Nikkei up by nearly 12 percent.
The broader Topix <> inched down 0.2 percent to 896.74.
"Shares rose quite strongly so it's not strange that there
would be a bit of a pause right now, and 10,200 is turning into a
key technical resistance level," said Hiroaki Osakabe, fund
manager at Chibagin Asset Management.
Resistance is strengthening at 10,200, which is where the top
of the Nikkei's Ichimoku cloud comes in, Osakabe said.
But support is likely just above 10,000, which is where both
the Nikkei's 75-day and 200-day moving averages lie.
EXPORTERS, SHIPPERS FALL
Blue-chip exporters were hit with profit-taking after their
recent gains on the back of the dollar's surge up to 90 yen on
better-than-expected U.S. jobs data that came out on Friday,
market players said.
But Federal Reserve Chairman Ben Bernanke pushed the dollar
lower when he said inflation could remain subdued but the U.S.
unemployment rate could stay elevated for some time and that the
U.S. economy faces "formidable headwinds," including tight credit
conditions. []
The dollar slipped 0.6 percent to 88.96 <JPY=>. Investors
fret about a stronger yen because it eats into exporters'
overseas profits.
Canon fell 1.3 percent to 3,700 yen and TDK Corp <6762.T>
slid 2.3 percent to 5,140 yen. Nikon Corp <7731.T>, a stepper
maker, fell 1.4 percent to 1,710 yen.
Nippon Yusen, Japan's largest shipping firm, lost 5.3 percent
to 268 yen and Kawasaki Kisen K.K. <9107.T> skidded 5.4 percent
to 264 yen. Mitsui O.S.K. Lines <9104.T> shed 3.1 percent to 499
yen.
Brokers said the freight market could drift still lower
without stronger global commodities demand.
Japan Airlines Corp <9205.T> extended losses, falling 2.8
percent to 104 yen, after Japan's transport minister said the
government has not made any decision on whether the state will
guarantee funds for the struggling company. []
(Additional reporting by Elaine Lies; Editing by Chris
Gallagher)
