Nikkei falls as nuclear worries weigh, TEPCO hit by sell orders

 * TEPCO shares untraded on report of nationalisation
 * Nikkei loses 1.5 pct by midday, 10.5 pct since quake
 * Mizuho Financial Group plunges on FSA inspection
 By Antoni Slodkowski	
 TOKYO, March 29 (Reuters) - Japan's Nikkei average fell on
Tuesday, hurt by growing worries about the crippled nuclear
plant and the impact of the earthquake and tsunami on corporate
earnings, with plant operator Tokyo Electric Power untraded on a
report it may be  nationalised.	
 The Nikkei's fall was exaggerated by around 83 points,
according to estimates by market players, as it came under more
selling pressure after the date passed for investors to receive
dividends for the current business year ending March 31.	
   Shares of Tokyo Electric were untraded on a glut
of sell orders after the Yomiuri newspaper said the government
would temporarily nationalise it and help pay compensation for
damage caused by its Fukushima nuclear plant.[ID:nL3E7ET007]	
 "The situation in Fukushima has a big, underlying impact on
the market, with worries over the plant likely impacting Wall
Street yesterday," said Kazuhiro Takahashi, general manager at
Daiwa Securities Capital Markets.	
 Plutonium found in soil at the Fukushima complex heightened
alarm on Tuesday over Japan's protracted battle to contain the
world's worst nuclear crisis in 25 years.[ID:nL3E7ES2ND]	
 "Investors are spooked by the news report (about TEPCO),"
said Hajime Nakajima, a trader at Cosmo Securities.	
 "As long as there are concerns that TEPCO may be
nationalised, investors don't want to hold the stock. Passive
funds are selling too," Nakajima said, adding that investors
were reminded of panic selling of Japan Airlines shares last
year when it decided to decrease capital.	
 By the midday break the benchmark Nikkei was down
1.5 percent or 139.55 points at 9,338.98. The broader Topix
 lost 2.1 percent to 839.46.	
 Japanese shares have lost 10.5 percent since the
earthquake, tsunami and threat of a nuclear disaster triggered
the biggest two-day rout on the market since 1987. In
comparison, MSCI's index of Asian shares outside Japan
 has gained 2.5 percent since the quake.	
 The head of Tokyo Stock Exchange said on Monday that some
Japanese companies, mainly manufacturers, will likely be late in
announcing full-year earnings for this business year because of
the earthquake and tsunami, which in turn would delay the
payment of dividends. See [ID:nL3E7ES1ED]	
 Mizuho Financial Group plunged 7.4 percent to 138
yen in heavy trade after the Financial Services Agency said on
Monday it will inspect Mizuho Bank over its recent computer
system trouble.	
 Mizuho was the fourth most actively traded share on the
Tokyo stock exchange's first section by turnover .	
 Bucking the negative trend, Nippon Chemi-Con Corp 
soared 10.7 percent to 382 yen after Macquarie Securities raised
its rating to "outperform" from "neutral", saying although its
earnings may be hit by production delays due to the earthquake,
it may improve from the July-September quarter as the positive
outlook for the aluminium capacitor industry remains intact.	
 Trading volume was back to pre-quake levels with some 1.2
billion shares changing hands on the Tokyo stock exchanges first
section. It has come off record highs reached in the week
following the quake, when the average daily volume was at 3.4
billion shares.        	
(Additional reporting by Ayai Tomisawa; Editing by Michael
Watson)	
 	
 	
 	
 Reuters Terminal users can see other related news and rates by 	
double-clicking on: 	
  All Nikkei indices (0#.NIKKEI: Quote, Profile, Research) 	
  All shares listed on The benchmark Nikkei ended the
day up 1.1 percent or 101.12 points at 9,536.13, 	
Nikkei-225 (0#.N225: Quote, Profile, Research) 	
  N225 index                TOPIX index   	
  Nikkei Japan 1000        TOPIX sector data    	
  Nikkei 300 index          TOPIX futures data  
(0#JTI:: Quote, Profile, Research) 	
  Osaka N225 data       (0#JNI:: Quote, Profile, Research)    Chicago N225 data    
(0#NK:: Quote, Profile, Research) 	
  Top 30 by volume          Top 30 by value      	
  Total volume              Total value          	
  1st section sector RICs  All TSE weighted avg 	
  Top 30 gainers by pct     Top 30 losers by pct 	
  Top 30 net gainers        Top 30 net losers    	
	
  Active Japanese stocks 	
  Japan economic indicators 	
	
 ASIA-PACIFIC STOCK MARKETS: 	
 Pan-Asia        Japan         S.Korea   	
 S.E. Asia              Hong Kong    Taiwan    	
 Australia/NZ           India        China     	
 OTHER MARKETS: 	
 Wall Street            Gold        Currency  	
 Eurostocks            Oil          JP bonds   	
 ADR Report           LME metals US bonds   	
 Stocks News US  Stocks News Europe    	
 DIARIES & DATA: 	
 IPO diary & data   Asia earnings diary 	
 U.S. earnings diary   European diary       	
 Japan diary          Wall Street Week Ahead   	
 Eurostocks Week Ahead  	
 TOP NEWS: 	
 For top Asian company news:                        	
 Top News Japan         U.S. company news     	
 Europe  company news  Forex news            	
 Global Economy news All Equity news             	
 Tech, Media, Telecoms Banking news          	
 Politics/General news   Asia Macro data      	
 A multimedia version of Reuters Top News is available at: 	
 http://topnews.session.rservices.com 	
 LIVE PRICES & DATA: 	
 World stocks          (0#.INDEX: Quote, Profile, Research)  Currencies   	
 Dow Jones/NASDAQ    Debt     (0#USBMK=: Quote, Profile, Research) 	
 FTSE 100                  LME price overview    	
 Yen/dollar               	
 	
 	
  	
 	

Nikkei falls as nuclear worries weigh, TEPCO hit by sell orders