Nikkei slips ahead of economic data, shortened U.S. trading week

martes 25 de noviembre de 2014 22:02 GYT

* 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
    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)