TOKYO, Oct 10 (Reuters) - The Nikkei average shed1.6 percent and the broader TOPIX also dropped 1.4percent on Wednesday morning.
The following stocks were on the move:
**JFE, KOBE STEEL FALL, NOMURA CUTS PRICE TARGETS**
JFE Holdings dropped 3.4 percent to 979 yen andKobe Steel Ltd lost 4.8 percent to 60 yen after NomuraSecurities cut its price targets on the two steelmakers.
Nomura lowered its price target on JFE to 1,030 yen from1,050 to reflect wider inventory valuation losses, while itreduced Kobe Steel price objective to 65 yen from 77, citingworsening business conditions.
The brokerage also cut its price target on Nippon Steel &Sumitomo Metal Corp to 155 yen from 163, citing aslightly harsher outlook for earnings at steel-relatedbusinesses.
Nippon Steel & Sumitomo Metal slipped 1.9 percent to 159yen.
**PC-RELATED FIRMS SUFFER ON CONCERNS ABOUT WEAK OUTLOOK**
Companies with significant exposure to the PC market cameunder pressure after Intel Corp , the world's largestsemiconductor maker, dropped 2.7 percent after negative reportsby at least two brokerages, citing weak demand for notebooks.
U.S. chipmaker Intersil Corp estimatedthird-quarter revenue below analyst estimates, which alsoweighed on Japanese PC-related companies.
Printed circuit board maker Ibiden Co Ltd sagged3.9 percent to 995 yen, hitting a nine-year low, while ShinkoElectric Industries Co Ltd , maker of semiconductorpackages and leadframes, shed 1.8 percent to 486 yen.
Nidec Corp , maker of micro motors, dropped 2.7percent to 4,980 yen and TDK Corp lost 1.9 percent to2,820 yen.
**TOKYO ELECTRON RISES AFTER Q2 ORDERS BEAT EXPECTATIONS**
Tokyo Electron Ltd advanced 1.5 percent to 3,315yen after its second quarter orders came in at 75 billion yen,above market expectations of between 50 and 60 billion yen,traders said.
The producer of semiconductor and LCD making equipment hasfallen 15.5 percent so far this year, underperforming a 2.3percent rise in the Nikkei.
(Reporting by Dominic Lau; Editing by Joseph Radford, PrateekChatterjee and G.Ram Mohan)
Keywords: MARKETS JAPAN STOCKS HOT/