* Exporters fall after gains on Monday
* Nikkei may hit 10,000 soon but unlikely to keep level
* Softbank climbs after Apple halves iPhone price
By Aiko Hayashi
TOKYO, June 9 (Reuters) - Japan's Nikkei average fell 0.8 percent on Tuesday, as exporter shares such as Honda Motor Co fell back after leading the benchmark to an eight-month closing high the previous day.
Shares sensitive to moves in commodity prices like trading house Mitsubishi Corp slipped on a broad decline in metals prices the previous day, while smelters, which had surged last week, slid as investors took profits.
But Softbank Corp, Japan's third-largest mobile phone operator, climbed after Apple Inc unveiled its next-generation iPhone 3GS and halved the price of its entry-level model, sparking hopes the move could boost sales at the Japanese iPhone vendor.]
Market analysts said the Nikkei could touch the psychologically key 10,000 threshold soon, but it was unlikely to stay above that level as worries remain about corporate profits and the impact on earnings from a recent run-up in commodity prices.
Buoyed by a growing view that the worst may have passed for the global economy, the Nikkei has so far recovered about 40 percent from its March lows, while oil prices fetched a seven-month high above $70 on Friday.
"What we are seeing is an inevitable adjustment after strong optimism boosted the market. The index will likely hover around the current level for a while, even touching 10,000 briefly," said Masaru Hamasaki, a senior strategist at Toyota Asset Management.
"Investors are shifting their focus to risk factors such as rising long-term interest rates that could affect an economic recovery or higher commodity prices that could impact corporate earnings in the latter half of the year."
The benchmark Nikkei shed 78.81 points in moderate trade to 9,786.82, with the decline broad based. It posted on Monday its highest finish since early October.
The broader Topix slipped 0.9 percent to 918.24.
Investors are focusing on key economic indicators this week for further clues about the state of the global economy.
Japan's April machinery orders data will be released before the start of trade on Wednesday, and a U.S. government report on May retail sales is due on Thursday.
EXPORTERS FALL, SOFTBANK STRONG
Some exporters gave up part of the gains they made on Monday, when they led a broad market rally.
Honda slipped 1.4 percent to 2,855 yen and Toyota Motor Corp declined 1.8 percent to 3,840 yen. Electronics parts maker Kyocera Corp fell 1 percent to 7,580 yen.
Still, some analysts said the longer-term picture for exporters was not too bad as the dollar has risen back above 98 yen, higher than the 95 yen level many exporters assumed when forecasting their earnings.
Trading houses slid after the declines in metals prices on Monday, with Mitsui & Co down 3.7 percent at 1,256 yen. Mitsubishi Corp fell 2.2 percent to 1,876 yen and Itochu Corp slipped 2.5 percent to 700 yen.
On Monday, copper led a sell-off in other industrial metals, hurt by extended gains in the dollar versus the euro and a weaker tone in equities.
Smelters fell, with Dowa Holdings losing 3.1 percent to 434 yen. Mitsui Mining & Smelting shed 4 percent to 243 yen.
Softbank climbed 2.2 percent to 1,838 yen, the top positive contributor to the Nikkei 225.
Chip-related shares gained after losing ground the previous day in the wake of an industry forecast for a steep drop in global chip sales.
Tokyo Electron added 2.1 percent to 4,810 yen and Advantest Corp inched up 0.3 percent to 1,868 yen.
Japan Tobacco Inc jumped 3.2 percent to 285,800 yen after Nikko Citi raised its share target price to 460,000 yen, citing signs of a sales recovery in Russia, favourable currency exchange rates and little chance of a big tobacco tax hike in the short-term.
Some 2.5 billion shares changed hands on the Tokyo exchange's first section, almost in line with last week's daily average of 2.4 billion.
Declining stocks outnumbered advancing ones by nearly 2 to 1. (Editing by Edwina Gibbs)