RTTNews - Japan stocks are expected to move lower at Friday's open, after Wall Street's modest gains overnight. Wall Street stocks moved higher for the 8th straight session.

Japan's market retreated on Thursday, with word that China is considering a reduction in steel and cement production weighed on sentiment.

The benchmark Nikkei 225 Average declined 165.74 points or 1.56 percent at 10,473.97.

Among the Nikkei member stocks, 28 finished higher, 193 were lower and 4 closed unchanged.

The broader Topix index of all First Section stocks declined 11.36 points or 1.16 percent to 964.23.

In the resources sector, import/export company Mitsui & Co., which trades heavily in commodities, was down 35 yen or 2.78 percent, Mitsui Mining and Smelting was down 7 yen or 2.68 percent and Sumitomo Chemical was down 12 yen or 2.60 percent.

The shippers were also weaker, with Nippon Yusen down 10 yen or 2.44 percent, Mitsui OSK Lines down 9 yen or 1.55 percent and Kawasaki Kisen Kaisha down 5 yen or 1.24 percent.

Among the major banks, Mizuho Financial was down 2 yen or 0.88 percent, Mitsubishi UFJ was down 2 yen or 0.34 percent, Resona Holdings declined 18 yen or 1.40 percent and Sumitomo Mitsui was down 80 yen or 1.96 percent.

In overseas trading, U.S. stocks worked their way through an up-and-down session Thursday after the morning brought mixed data on the economy. At the closing bell on Wall Street, the Dow Jones Industrial Average was higher for the eighth straight session, climbing 37.11 points or 0.39 percent at 9,580.63, the Nasdaq Composite index was up 3.30 points or 0.16 percent at 2,027.73 and the Standard & Poor's 500 index was higher by 3.30 points or 0.28 percent at 1,030.98.

Most of the Asia/Pacific region markets closed lower on Thursday.

Hong Kong's Hang Seng index was down 213.57 points or 1.04 percent at 20,242.75.

In China, the Shanghai Composite index was down 21,20 points or 0.71 percent at 2,946.40.

The BSE 30 index in India was up 11.22 points or 0.07 percent at 15,781.07.

Indonesia's Jakarta Composite index was down 24.02 points or 1.01 percent at 2,356.06.

In South Korea, the KOSPI/Seoul Composite index fell 14.79 points or 0.92 percent to 1,598.33.

The Taiwan Weighted Index dropped 28.46 points or 0.42 percent to 6,690.75.

On the economic data schedule, Japan is scheduled to release July numbers for inflation and unemployment.

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