Tokyo investors look to Japan, Germany GDP data

Tokyo investors will look to Japanese and German economic growth data next week after the market faced selling pressure over cuts to some firms' profit projections, as the latest earnings season winds down. Japan is scheduled to announce its July-September GDP figures on Thursday with the market forecasting another quarter of strong growth while Germany also reports that day.
"The market will look to GDP figures both in Japan and Germany, although the impact should be limited if the results are within expectations," said Hikaru Sato, senior technical analyst at Daiwa Securities.
"Selective companies with poor results or a dim outlook have been victims of profit taking - that may continue for the time being."
Among them, Nissan has been under pressure since the auto giant slashed its full-year earnings outlook with the stock plunging more than 10 percent on Tuesday.
The benchmark Nikkei 225 wrapped up Friday's session down 1.0 percent to 14,086.80 with the headline index losing 0.81 percent over the week. The Topix index of all first-section shares fell 0.70 percent to 1,176.42 on Friday, down 0.56 percent over a four session week with markets closed Monday for a national holiday.
The Tokyo market turned down Friday after US growth data fuelled concerns the Federal Reserve will start to cut back its stimulus programme earlier than expected.
The Dow Jones Industrial Average fell 0.97 percent to 15,593.98.
Fed easing has been credited with helping buoy global equity markets.
"Overseas orders are light, as the uncertainty over the whole US Fed tapering issue once again rears its head - a negative for stocks," said an equity trading director at a foreign brokerage.
On Thursday, Twitter made a successful Wall Street debut as its shares closed at $44.90, up 73 percent, valuing the still-profitless social networking service at about $24 billion.
In Tokyo forex trading on Friday, the dollar edged up to 98.20 yen against 98.02 yen in New York. However, the greenback fetched about 98.60 yen the day before.
Major exporters lost ground Friday as Nissan slipped 0.45 percent to 883 yen with Toyota shares falling 1.11 percent to 6,200 yen.
Sony dropped 2.65 percent to 1,649 yen while rival Panasonic lost 2.54 percent to 994 yen.
Fukushima operator Tokyo Electric Power fell 1.14 percent to 520 yen following a news report that it may split itself up into separate firms as part of the government's drive to deregulate the energy market.