TOKYO, Nov 24 (Reuters) - The benchmark Nikkei average lost 0.8 percent and the broader TOPIX dipped 0.9 percent on Tuesday.
The following stocks were on the move:
**BANKS SLIDE ON SELLING AFTER FRIDAY RISE, FUNDRAISING WORRY**
Mitsubishi UFJ Financial Group (MUFG) and other bank shares slid as selling erased gains made on Friday, weighed by persistent worries that other banks would launch fundraisings in the wake of MUFG's massive fundraising announcement last week, a market player said.
MUFG, Japan's largest bank, slipped 2.8 percent to 458 yen, third-ranked Sumitomo Mitsui Financial Group fell 3.7 percent to 2,710 yen and no. 2 bank Mizuho Financial Group lost 1.9 percent to 154 yen.
0415 GMT
**TAKEFUJI FALLS AFTER MOODY'S DOWNGRADE**
Takefuji Corp fell 5.6 percent to 374 yen after rating agency Moody's downgraded long-term debt issued by the consumer finance company by two notches to Caa1 from B2.
A Caa rating means that Moody's judges the obligations in poor standing and subject to very high credit risk.
0200 GMT
**JAL TOUCHES RECORD LOW; MITSUI SOLD ENTIRE STAKE**
Japan Airlines tumbled 9.5 percent to a record low after the Nikkei business daily said trading house Mitsui & Co had sold its entire stake of 11.73 million shares in JAL during the first half ended Sept. 30.
A spokesman for Mitsui later confirmed the Nikkei's Saturday report.
JAL dropped 6.3 percent to 89 yen, after earlier sinking to a record low of 86 yen.
The stock was also under pressure due to uncertainty over whether it can achieve planned cuts to its pension payouts and qualify for a state bailout.
0139 GMT
**MORI SEIKI PLUNGES AMID STOCK DILUTION WORRIES**
Machine tool maker Mori Seiki tumbled 9.9 percent to 805 yen after saying it will raise up to 18.2 billion yen ($204.4 million) to invest in new equipment and to buy Sony Corp's measuring equipment unit.
Mori Seki plans to issue 19.2 million new shares in a public offering, with a greenshoe option of 2.8 million shares. That would raise the number of its shares outstanding by up to 23 percent, sparking dilution worries.
0116 GMT
**SHIPPERS FALL AFTER KEY FREIGHT INDEX EXTENDS SLIDE**
Shares of shipping firms slipped after the Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell further on Monday with weaker appetite to book vessels taking its toll on sentiment and activity.
Nippon Yusen KK shed 2.7 percent to 288 yen, while Mitsui O.S.K. Lines Ltd declined 1.7 percent to 510 yen and Kawasaki Kisen Kaisha Ltd fell 1.8 percent to 273 yen.
0051 GMT
**SUMITOMO METAL, OTHER METAL STOCKS GAIN ON GOLD**
Metal stocks climbed, helped by the recent strength in gold prices. Gold eased on Tuesday from record highs hit the day before but sentiment was underpinned by dollar weakness.
Sumitomo Metal Mining rose 1.5 percent to 1,450 yen. Mitsubishi Materials Corp jumped 3.8 percent to 217 yen and Dowa Holdings gained 2.5 percent to 484 yen.
0032 GMT
**HITACHI GAINS AFTER REPORT OF UK RAIL PROJECT DEAL**
Hitachi Ltd rose 1.6 percent to 257 yen after the Nikkei business daily said the company is expected to sign a high-speed railway project deal in Britain worth more than 500 billion yen ($5.6 billion).
0005 GMT
(Reporting by the Tokyo newsroom)
((aiko.hayashi@thomsonreuters.com; Reuters Messaging: aiko.hayashi.reuters.com@reuters.net; +81 3 6441 1802))
((If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com))
($1=89.03 Yen) Keywords: MARKETS JAPAN STOCKS HOT (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The following stocks were on the move:
**BANKS SLIDE ON SELLING AFTER FRIDAY RISE, FUNDRAISING WORRY**
Mitsubishi UFJ Financial Group (MUFG) and other bank shares slid as selling erased gains made on Friday, weighed by persistent worries that other banks would launch fundraisings in the wake of MUFG's massive fundraising announcement last week, a market player said.
MUFG, Japan's largest bank, slipped 2.8 percent to 458 yen, third-ranked Sumitomo Mitsui Financial Group fell 3.7 percent to 2,710 yen and no. 2 bank Mizuho Financial Group lost 1.9 percent to 154 yen.
0415 GMT
**TAKEFUJI FALLS AFTER MOODY'S DOWNGRADE**
Takefuji Corp fell 5.6 percent to 374 yen after rating agency Moody's downgraded long-term debt issued by the consumer finance company by two notches to Caa1 from B2.
A Caa rating means that Moody's judges the obligations in poor standing and subject to very high credit risk.
0200 GMT
**JAL TOUCHES RECORD LOW; MITSUI SOLD ENTIRE STAKE**
Japan Airlines tumbled 9.5 percent to a record low after the Nikkei business daily said trading house Mitsui & Co had sold its entire stake of 11.73 million shares in JAL during the first half ended Sept. 30.
A spokesman for Mitsui later confirmed the Nikkei's Saturday report.
JAL dropped 6.3 percent to 89 yen, after earlier sinking to a record low of 86 yen.
The stock was also under pressure due to uncertainty over whether it can achieve planned cuts to its pension payouts and qualify for a state bailout.
0139 GMT
**MORI SEIKI PLUNGES AMID STOCK DILUTION WORRIES**
Machine tool maker Mori Seiki tumbled 9.9 percent to 805 yen after saying it will raise up to 18.2 billion yen ($204.4 million) to invest in new equipment and to buy Sony Corp's measuring equipment unit.
Mori Seki plans to issue 19.2 million new shares in a public offering, with a greenshoe option of 2.8 million shares. That would raise the number of its shares outstanding by up to 23 percent, sparking dilution worries.
0116 GMT
**SHIPPERS FALL AFTER KEY FREIGHT INDEX EXTENDS SLIDE**
Shares of shipping firms slipped after the Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell further on Monday with weaker appetite to book vessels taking its toll on sentiment and activity.
Nippon Yusen KK shed 2.7 percent to 288 yen, while Mitsui O.S.K. Lines Ltd declined 1.7 percent to 510 yen and Kawasaki Kisen Kaisha Ltd fell 1.8 percent to 273 yen.
0051 GMT
**SUMITOMO METAL, OTHER METAL STOCKS GAIN ON GOLD**
Metal stocks climbed, helped by the recent strength in gold prices. Gold eased on Tuesday from record highs hit the day before but sentiment was underpinned by dollar weakness.
Sumitomo Metal Mining rose 1.5 percent to 1,450 yen. Mitsubishi Materials Corp jumped 3.8 percent to 217 yen and Dowa Holdings gained 2.5 percent to 484 yen.
0032 GMT
**HITACHI GAINS AFTER REPORT OF UK RAIL PROJECT DEAL**
Hitachi Ltd rose 1.6 percent to 257 yen after the Nikkei business daily said the company is expected to sign a high-speed railway project deal in Britain worth more than 500 billion yen ($5.6 billion).
0005 GMT
(Reporting by the Tokyo newsroom)
((aiko.hayashi@thomsonreuters.com; Reuters Messaging: aiko.hayashi.reuters.com@reuters.net; +81 3 6441 1802))
((If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com))
($1=89.03 Yen) Keywords: MARKETS JAPAN STOCKS HOT (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.