August 10, 2016 / 6:16 AM / 2 years ago

Nikkei slips on stronger yen, investors lock in gains ahead of holiday

TOKYO, Aug 10 (Reuters) - Japan’s Nikkei share average slipped on Wednesday as the yen strengthened against the dollar after downbeat U.S. data, and investors locked in gains ahead of a Japanese holiday.

The Nikkei closed down 0.2 percent at 16,735.12. After ending the morning session down 0.3 percent, it briefly turned positive in afternoon trade before giving up its gains.

The dollar was down 0.5 percent against the yen at 101.30 after a weak U.S. productivity report on Tuesday.

That prompted investors to cut long-term inflation expectations and bets the U.S. Federal Reserve will hike interest rates later this year.

The broader Topix finished down 0.2 percent at 1,314.83.

The JPX-Nikkei Index 400 shed 0.2 percent to 11,833.82.

Markets in Japan will be closed on Thursday for a public holiday, with some investors planning to take Friday off as well for a long weekend. (Reporting by Tokyo markets team)

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