Nikkei sags as futures-selling deepens morning losses
TOKYO, Nov 27(Reuters) - Japanese stocks closed down on Thursday, as selling of Nikkei futures in the afternoon widened earlier losses driven by weak U.S. data and a stronger yen. The Nikkei benchmark shed 0.8 percent to close at 17,248.50. Many investors stayed on the sidelines ahead of the Thanksgiving holiday in the U.S., and the trade volume was the lowest since Nov. 10. Market participants said hedge funds and securities firms took temporary short positions on Nikkei futures post-lunch in response to a stronger yen. Major export shares suffered with the dollar retreating to 117.24 against the yen. Canon Inc shed 0.5 percent and Nissan Motor Co fell 1.6 percent. Yakult Honsha Co touched a four-week low and lost 6.1 percent for the day on a media report saying France's Danone SA is considering selling its 20 percent stake in the company. The broader Topix fell 1.0 percent to 1,391.90, while the JPX-Nikkei Index 400 shed 1.1 percent to 12,680.52. (Reporting by Thomas Wilson; Editing by Richard Borsuk)
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