Nikkei down on weak output data, China stocks eyed

TOKYO, May 30 (Reuters) The Nikkei share average was down 0.3 percent on Wednesday as electronics makers such as TDK Corp.

fell after data showed industrial production fell unexpectedly in April.

Investors were also taking a cautious tack after China's Ministry of Finance said it had raised a stamp duty on stock trading.

Market participants are concerned the higher duty could prompt a slide in Chinese equities, which would impact markets around the world.

Shanghai stock trading will open at 0130 GMT.

''The Chinese market has yet to open so in Tokyo, at the moment, we just have to wait,'' said Masayoshi Okamoto, head of dealing at Jujiya Securities.

The Nikkei was down 0.27 percent at 17,625.25 as of 0116 GMT, while the broader TOPIX index was down 0.18 percent at 1,734.78.

Shares of clothing retailer Fast Retailing Co. Ltd. gained 2.7 to 9,250 yen. Goldman Sachs lifted its rating on the stock to ''neutral'' from ''sell'' on Wednesday and removed it from its Japan ''sell'' list, citing increased market share.

Electronics components maker TDK dropped 0.9 percent to 10,800 yen.

Kyocera Corp. fell 1.1 percent to 11,700 yen.

Government data showed on Wednesday that industrial output fell 0.1 percent in April from March, compared with a consensus market forecast for a 0.5 percent increase.

That added to concern that output growth may be losing momentum on a slowdown in U.S.-bound exports.

REUTERS CS SBA BST0707