Japanese shares dip on caution before Fed Powell's remarks

* Nikkei down 0.15%, Topix loses 0.23%
* Tumble in machine tool orders weigh on machinery makers
* Yoshinoya soars after it posts net profit for March-May

By Ayai Tomisawa and Shinichi Saoshiro
TOKYO, July 10 (Reuters) - Japan's Nikkei edged down on
Wednesday, confined to a tight range as investors awaited key
testimony on the U.S. economy from Federal Reserve Chairman
Jerome Powell.
The Nikkei share average .N225 ended the day down 0.15% at
21,533.48.
Markets are bracing for Powell's comments, in two days of
testimony before the U.S. Congress starting later on Wednesday,
in which he may support or confound expectations for U.S. policy
easing.
Global equities had advanced earlier this month on the
prospect of the Fed easing monetary policy. But the markets have
lost some momentum recently as the prospect of aggressive easing
has faded after a stronger-than-expected U.S. jobs report.
"Investors are nervous as they wait to find out from
Powell's comments on whether the Fed will continue cutting rates
or not," said Yutaka Miura, a senior technical analyst at Mizuho
Securities.
Machinery shares languished after Japan Machine Tool
Builders' Association said on Tuesday that June orders for
machine tools tumbled 38% to 98.8 billion yen ($907.25 million),
falling for the ninth consecutive month. Fanuc Corp 6954.T
slipped 2.1% and Yaskawa Electric 6506.T dropped 1.5%, while
Keyence Corp 6861.T shed 0.7%.
Chiba Bank 8331.T rallied 3.8% after the lender and Bank
Of Yokohama said they were considering a business tie-up.
Concordia Financial Group 7186.T , Bank of Yokohama's
parent company, gained 1.2%.
Japan Post Insurance Co 7181.T lost 5.1% following reports
that it had double charged life insurance premiums to its
customers.
Yoshinoya Holdings 9861.T , which operates beef bowl fast
food restaurants, surged 8.8% after it posted a net profit of
1.097 billion yen in the March-May period, compared with a net
loss of 388 million yen in the previous year. The broader Topix .TOPX fell 0.23% to 1,571.32.
Declining shares outnumbered gainers 1,297 to 764.
($1 = 108.9000 yen)

(Editing by Jacqueline Wong)