Nikkei slips ahead of economic data, shortened U.S. trading week
* Honda drops on under-reporting of accidents * Aluminium-related stocks up on Toyota report By Thomas Wilson TOKYO, Nov 26(Reuters) - Japanese stocks ticked down on Wednesday as anxiety about key economic data due on Friday plus a holiday-shortened U.S. trading week dampened investor risk appetites, while Honda Motor Co Ltd dropped after under-reporting accidents. The Nikkei benchmark slipped 0.2 percent to 17,369.58 by 0144 GMT. "Domestic institutions and foreigners are treading water," said Gavin Parry, managing director of Parry International Trading, citing the Thanksgiving holiday in the U.S. as a likely drag on trading volume. Honda led the Nikkei's losses, falling 2.8 percent after admitting it had failed to report serious accidents in the U.S. since 2003. The automaker has been at the centre of investigations into defects in Takata Corp airbags. Few market catalysts are due until Friday, when data is expected to highlight Japan's tepid recovery. Investors are likely to take profits after recent gains on the back of the Bank of Japan's easing and China's interest rate cut on Friday, said Masayuki Doshida, senior market analyst at Rakuten Securities. The Organisation for Economic Cooperation and Development's economic outlook report did little to help the mood, saying on Tuesday that Japan needs fiscal consolidation to reduce its debt and contain the risks of the BOJ's easing policy. Leading exporters were flat as the yen stepped back from lows of 118.57 overnight to trade at 117.70 against the dollar by 0112 GMT. Nikon Corp lost 0.4 percent and Canon Inc was unchanged. Aluminium-related stocks jumped after the Nikkei newspaper reported that Toyota Motor Corp will use the lightweight metal instead of steel in luxury-car bodies. Daiki Aluminium jumped 9.6 percent and UACJ Corp 11.7 percent. The broader Topix was flat, down 0.1 percent at 1,407.76, while the JPX-Nikkei Index 400 lost 0.1 percent to 12,830.33. (Editing by Richard Borsuk)
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