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Japan Hot Stocks-Tokio Marine, chip sector, NTT DoCoMo, SuzukiTOKYO, Nov 19, 2008 (Reuters via COMTEX) -- The benchmark Nikkei average fell 1.4 percent, while the broader TOPIX lost 1.6 percent as of 0535 GMT on Wednesday. The following stocks were on the move: **TOKIO MARINE TUMBLES AFTER SLASHING FORECAST** Shares of Tokio Marine Holdings fell 7.9 percent to 2,620 yen after Japan's largest property and casualty insurer cut its annual net profit forecast by 72 percent, hit by losses on stocks and other securities holdings. The insurer said it now expects to post a net profit of 42 billion yen ($432.9 million) for the year to March 2009, down from its previous forecast for a profit of 150 billion yen. 0535 GMT **ELPIDA, CHIP GEAR MAKERS DOWN AFTER WSTS NEGATIVE OUTLOOK** Elpida Memory Inc tumbled 8.4 percent to 370 yen after industry group World Semiconductor Trade Statistics said it expected global sales of semiconductors to fall next year, with memory sales falling for the third straight year. Goldman Sachs also lowered its rating on Elpida from "buy" to "neutral" and slashed its target price to 500 yen from 950 yen on concern that the Taiwan government's possible measures to support the country's PC memory industry could prolong oversupply in the sector. Chip equipment makers fell in wake of the industry group's outlook, with Tokyo Electron Ltd down 5.5 percent, Disco Corp falling 8.0 percent, Dainippon Screen Manufacturing Co down 4.0 percent and Advantest Corp down 4.1 percent. 0128 GMT **NTT DOCOMO UP AFTER REPORT TO DEVELOP 'GOOGLE' SMART PHONE** Shares of NTT DoCoMo gained 1.3 percent to 160,100 yen after the Nikkei business daily reported Japan's largest mobile phone carrier and South Korea's KT Freetel Ltd will jointly develop a smart phone with free software from Google Inc for launch next year. The new smart phone will be the first Google phone to be developed by Japanese and South Korean carriers and is expected to be a strong competitor to Apple Inc's iPhone, the report said. 0119 GMT **SUZUKI MOTOR FALLS AFTER BROKERAGE DOWNGRADE** Shares of Suzuki, a maker of compact cars, slid 3.1 percent to 1,265 yen after Nikko Citigroup downgraded the stock to "sell/medium risk" from "buy/medium risk" citing earnings concerns amid the global financial turmoil. The brokerage also lowered the target price to 1,070 yen from 1,860 yen. "We substantially lower our earnings forecasts for Suzuki to reflect falling sales in the US and Europe, where conditions have deteriorated badly due to financial turmoil," Nikko analyst Noriyuki Matsushima wrote in a note to clients. He said shrinking profits in Asia and a stronger yen would also likely pressure the automaker's earnings. 0058 GMT **FURUKAWA ELEC UP ON GOLDMAN UPGRADE TO "BUY"** Furukawa Electric Co Ltd rose 3.5 percent to 357 yen after Goldman Sachs raised its rating to "buy" from "neutral", citing the electric wires and cables maker's relatively steady earnings and effects of its restructuring efforts. **MITSUBISHI UFJ FINANCIAL GROUP DOWN AFTER EARNINGS** Mitsubishi UFJ Financial Group (MUFG), Japan's largest bank, slipped 2.9 percent to 531 yen after it posted a 61 percent decline in second-quarter profit on Tuesday and stuck to its recently lowered full-year forecast, hit by a recession at home and losses on its extensive stock portfolio. Other large banks also fell, with Sumitomo Mitsui Financial Group down 1.5 percent at 336,000 yen after the Yomiuri daily said the bank aims to raise about 400 billion yen ($4.12 billion) in capital by issuing preferred securities to finance the redemption of outstanding preferred securities in January and to protect its capital adequacy from bad debt write-offs. No.2 bank Mizuho Financial Group fell 1.1 percent to 227,500 yen. 0029 GMT **MAZDA MOTOR CLIMBS AS FORD TO SELL STAKE** Shares of Mazda rose 2.7 percent to 189 yen, extending a 6.4 percent jump the previous day, on news that Ford Motor Co would sell a stake in the Japanese carmaker. Ford, scrambling for cash as the U.S. Big Three automakers struggle to stay alive, will end 12 years of control of Mazda through the sale of a 20 percent stake in the Japanese carmaker for around $540 million. Mazda said on Tuesday it would buy back 6.87 percent of its own shares from Ford for up to 17.9 billion yen ($184.5 million), keeping them as treasury stock. More than 20 undisclosed business partners will purchase the remaining 13 percent. 0015 GMT (For IPO news, data and diary, click, for stocks click) (Reporting by Aiko Hayashi) (([email protected]; Reuters Messaging:aiko.hayashi.reuters [email protected]; +81 3 6441 1802)) ($1=97.01 Yen) ($1=97.01 Yen) Keywords: MARKETS JAPAN STOCKS HOT =2 (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 2008. All rights reserved. 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