TOKYO, Dec 30 (Reuters) - The benchmark Nikkei average inched down 0.2 percent and the broader TOPIX fell 0.4 percent on Wednesday.
The following stocks were on the move:
**BIG BANKS FALL AS JAL BANKRUPTCY WORRIES MOUNT**
Japan's top three banks, Japan Airlines Corp's main creditors, fell amid growing investor worries that the struggling carrier will be restructured in bankruptcy court as part of a state bailout.
Mitsubishi UFJ Financial Group fell 0.9 percent to 450 yen, Mizuho Financial Group slipped 1.8 percent to 164 yen and Sumitomo Mitsui Financial Group retreated 0.4 percent to 2,645 yen.
Bankruptcy proceedings usually lead to a sharp cut in the payment of sales receivables and other creditor claims.
0126 GMT
**BLUE-CHIP EXPORTERS GAIN AFTER DLR/YEN HITS 2-MTH PEAK**
Shares of blue-chip exporters gained, helped by a weaker yen, which will boost these companies' profits when they are repatriated.
Chip-tester maker Advantest Corp climbed 1.4 percent to 2,470 yen, Canon Inc rose 0.5 percent to 3,930 yen and Honda Motor Co added 0.3 percent to 3,150 yen.
The dollar/yen was steady in early trade in Asia after having risen to a two-month high above 92 yen.
0051 GMT
**JAL HITS RECORD LOW AMID BANKRUPTCY WORRIES**
Shares of Japan Airlines Corp plunged to a record low amid worries the firm might go bankrupt, after having lost over 10 percent at one point the previous day.
The stock was down 18.2 percent at 72 yen.
The Nikkei business daily reported on Wednesday that a government-backed turnaround fund plans to guarantee the struggling carrier's fuel payments and other commercial transactions if the company is restructured in bankruptcy court.
0017 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))
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:
**BIG BANKS FALL AS JAL BANKRUPTCY WORRIES MOUNT**
Japan's top three banks, Japan Airlines Corp's main creditors, fell amid growing investor worries that the struggling carrier will be restructured in bankruptcy court as part of a state bailout.
Mitsubishi UFJ Financial Group fell 0.9 percent to 450 yen, Mizuho Financial Group slipped 1.8 percent to 164 yen and Sumitomo Mitsui Financial Group retreated 0.4 percent to 2,645 yen.
Bankruptcy proceedings usually lead to a sharp cut in the payment of sales receivables and other creditor claims.
0126 GMT
**BLUE-CHIP EXPORTERS GAIN AFTER DLR/YEN HITS 2-MTH PEAK**
Shares of blue-chip exporters gained, helped by a weaker yen, which will boost these companies' profits when they are repatriated.
Chip-tester maker Advantest Corp climbed 1.4 percent to 2,470 yen, Canon Inc rose 0.5 percent to 3,930 yen and Honda Motor Co added 0.3 percent to 3,150 yen.
The dollar/yen was steady in early trade in Asia after having risen to a two-month high above 92 yen.
0051 GMT
**JAL HITS RECORD LOW AMID BANKRUPTCY WORRIES**
Shares of Japan Airlines Corp plunged to a record low amid worries the firm might go bankrupt, after having lost over 10 percent at one point the previous day.
The stock was down 18.2 percent at 72 yen.
The Nikkei business daily reported on Wednesday that a government-backed turnaround fund plans to guarantee the struggling carrier's fuel payments and other commercial transactions if the company is restructured in bankruptcy court.
0017 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))
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.
