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Autos up but Japan softer

Toyota opened strongly Thursday.
Toyota opened strongly Thursday.

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TOKYO, Japan (Reuters) -- Japanese stocks have opened have softer Thursday after profit-taking hit recently high-flying issues such as Matsushita Electric Industrial Co for a second day in a row after steep gains earlier in the week.

Auto makers mostly firmed a day after a positive surprise from Toyota Motor Corp's half-year earnings thanks to robust sales growth in the second quarter.

Toyota, Japan's top auto maker, was up 2.69 percent at 3,440 yen and Mazda Motor Corp rose 2.71 percent to 303 yen ahead of its earnings later in the day.

The Nikkei average was down 0.63 percent or 68.39 points at 10,769.15 as of 0009 GMT. On Wednesday, the Nikkei eased 0.10 percent a day after it rallied 2.73 percent, its biggest one-day percentage gain in two months.

The broader TOPIX index was down 0.63 percent at 1,056.56.

Australia was trading down 0.19 percent, while Singapore's Straits Times Index was up 0.19 percent in morning trading.



Copyright 2003 Reuters. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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