TOKYO, July 9 - Japanese stocks edged down on Wednesday morning, with tech issues like NEC Corp <6701.T> hit by profit taking a day after the Nikkei average clambered above 10,000 for the first time since August. Chips-to-computers conglomerate NEC Corp <6701.T> was down 3.17 percent at 795 yen, after having rallied more than 140 percent from its year low of 333 yen hit in April on hopes for a recovery in the technology sector. "Investors are starting to rotate funds out of overheated sectors like tech and into consumer-related stocks like Ito-Yokado, which are seen as laggards," said Yusuke Sakai, manager of equities at Mizuho Securities.
The Nikkei <.N225> was down 0.40 percent at 9,859.09 by midsession, after it climbed 1.06 percent on Tuesday and briefly topped the key 10,000 level. The TOPIX index of all first section issues <.TOPX> was down 0.50 percent at 971.38. Ito-Yokado Co Ltd <8264.T>, Japan's biggest retailer, rose 5.48 percent to 3,660 yen, while third-ranked convenience store operator FamilyMart Co Ltd <8028.T> jumped 7.63 percent to 2,610 yen.//