Nikkei interrupts 3-day winning streak as new business concerns weigh

* The earnings outlook continues to deteriorate

* The SoftBank group collapses as the T-Mobile / Sprint agreement comes up against more and more obstacles

* Nissan down, the voting advisor demands the ousting of the CEO

By Hideyuki Sano

TOKYO, June 12 (Reuters) – Japan's Nikkei average fell on Wednesday, breaking with a three-day winning streak, as US President Donald Trump's tough stance on his latest comments on trade talks with Japan's biggest oil company, Nikkei. China fueled fears of a global slowdown.

The Nikkei fell 0.4% to 21,129.72, with immediate resistance observed at its current 100-day moving average at 21,272. The broader Topix lost 0.5% to 1,554.22. The number of shares down is higher than the number of shares up from 1,329 to 717.

The market recovery in recent trading sessions, after several months of lows in early June, is starting to run out of steam, mainly due to concerns about the impact of a prolonged trade war between the United States and the United States. China.

Trump said on Tuesday that he was signing a trade deal with China and that he had no interest in going ahead unless Beijing again agreed to four or four. five "major points", without specifying what these questions were.

"If you list negative factors, there are many, starting with the US-Chinese frictions and Brexit. When you try to list positive factors, they are rare, "said Seiki Orimi, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities.

Indeed, earnings prospects of Japanese companies continued to deteriorate. Topix's forward earnings per share decreased 6.7% from its high at the end of last year and is now down 2.1% from a year ago.

Machine orders in Japan, one of the leading indicators of investment spending, unexpectedly rose for the third consecutive month in April, helped by strong domestic demand.

Yet this is of little importance given the overwhelming uncertainty that Canada-US friction poses for long-term corporate investment plans, particularly in the technology sector.

"Even if we have good numbers, people will not take it for granted, given what is happening between the United States and China," said Hiroshi Watanabe, an economist at Sony Financial Holdings.

"Cyclically, it's time for the global semiconductor cycle to end. But it is unlikely that trade in technology products will resume with supply chain disruptions, further delaying any potential lows, "he said.

Shares of electrical machinery companies fell 0.7%, which is below the market.

The SoftBank group lost 2.4% after 10 US states, led by New York and California, filed a lawsuit to prevent the purchase of Sprint Corp., a subsidiary of the SoftBank group, for $ 26 billion. dollars by T-Mobile US Inc.

Nissan Motor lost 0.6% as its governance crisis seemed to deepen. ISS, the leading domain name consulting firm, has urged Nissan shareholders to vote against the reappointment of chief executive, Hiroto Saikawa, in a context of growing divide with his Renault alliance partner about of governance reform. (Edited by Simon Cameron-Moore)