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Japan Hot Stocks-Fast Retailing hits 2-mth low after results disappoint

TOKYO, Oct 12 (Reuters) - The Nikkei average advanced 0.3 percent and the broader TOPIX climbed 1 percent on Friday morning.

The following stock was on the move:

**FAST RETAILING HITS TWO-MONTH LOW AFTER RESULTS DISAPPOINT**

Fast Retailing Co Ltd sank 9.9 percent to 16,050 yen, its lowest in two months after the company's operating profit for the year ended August came in below market expectations and earnings guidance for this business year fell short of analysts' forecasts.

In response, Goldman Sachs and J.P. Morgan cut their price targets on the operator of casual clothing chain Uniqlo.

Goldman Sachs reduced its price target to 20,500 yen from 21,000, although it kept its 'buy' rating. J.P. Morgan lowered its price objective to 15,000 yen from 16,400, but maintained its 'neutral' rating.

The stock was the second-most traded on the main board by turnover.

0145 GMT

(Reporting by Dominic Lau; Editing by Prateek Chatterjee)

((dominic.lau@thomsonreuters.com)(+81 3 6441 1917)(Reuters Messaging: dominic.lau.thomsonreuters@reuters.net))

Keywords: MARKETS JAPAN STOCKS HOT/