(Updates with levels as of 0600 GMT)
By Brigid Riley
TOKYO, Aug 21 (Reuters) - Japan's Nikkei share average
edged down on Wednesday as yen gains weighed on domestic stocks.
The Japanese currency strengthened back to the 145 levels
per dollar after falling as far as 147.34 the previous day,
although a halt in the yen's rise helped narrow equity losses in
the Asian afternoon.
Nikkei finished 0.3% lower at 37,951.8 after falling
1% in early trade, while the broader Topix fell 0.2% to
2,664.86.
Japanese equities have bounced between gains and losses this
week as the yen fluctuated.
A stronger yen tends to drag on exporter shares as it
decreases the value of overseas profits in yen terms when firms
repatriate them to Japan.
It was trading around 145.74 per dollar when the
market closed, after touching a high of 144.945.
"There are still structural themes supporting Japanese
equity markets, but yen risks keep us neutral in our tactical
view," said Charu Chanana, global market strategist and head of
FX strategy at Saxo.
A wide berth of shares traded in the red, with major
chip-related shares among them also weighing on the Nikkei
following declines in their U.S. peers.
Tokyo Electron ( TOELF ) fell 1.4%, while Advantest ( ADTTF )
and Shin-Etsu Chemical ( SHECF ) were both down about 2%.
Among other shares, Seven & I Holdings ( SVNDF ) was up 5.8%
after slumping on Tuesday as investors continued to weigh a
takeover proposal from Canada's Alimentation Couche-Tard ( ANCTF )
.
Cosmetic company Shiseido ( SSDOF ) slid about 6% to become
the biggest percentage loser.
Uniqlo parent firm and Nikkei heavyweight Fast Retailing ( FRCOF )
ticked down 0.5%.
Markets now await the release of preliminary benchmark
revisions to U.S. employment data for the 12 months through
March, due later on Wednesday.
A revision closer to 1 million fewer jobs created than
previously estimated could renew concerns about the U.S. labour
market and generate more market volatility, said Saxo's Chanana.