Nikkei is opening lower

TOKYO, Dec 3 (Reuters) - Tokyo stocks dipped at the start onMonday, weighed down by falls in Toshiba Corp (news) and otherselected technology issues following a slide in their U.S.counterparts.
Traders said the birth of a royal princessover the weekendwas a supportive factor for sentiment, but that it failed tooutweigh concerns about the dismal outlook for the domesticeconomy and a halt to the Wall Street recent rally.

"The birth is surely a bright piece of news, but it isunlikely to boost the economy, which as we all know is in a veryweak state," said Masaru Kazama, head of equities at NissanSecurities.

The benchmark Nikkei average (news) fell 0.88 percent or93.89 points to 10,603.55 by 0022 GMT, while thecapital-weightedTOPIX index (news) shed 0.42 percent or 4.44 points to 1,045.78.

Investors moved to take profits on recent gains inbaby-related shares, with stroller and car seat maker Combi Corp

(news) sliding 21.15 percent to 820 yen andbaby wear makerKimuratan Co Ltd (news) plunging 21.19 percent to 93.

Toshiba, Japan's top producer of chips, lost 1.14 percent to520 yen after the U.S. Nasdaq (news) gave up 0.14 percent andthe Philadelphia Semiconductor index (news) fell2.67 percent.

Elsewhere, Dentsu Inc (news) , the world's fourth-largest adagency, was bid-only with no sellers at 495,000 yen, 25,000 yenor 5.3 percent above Friday's close.

A mispunched order by UBS Warburg marred Dentsu's debut onFridayon the Tokyo Stock Exchange (TSE) .

The government is to release preliminary July-September grossdomestic product (GDP) data on Friday, with the figure expectedto confirm Japan has entered its fourth recession in a decade.
 

 

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