Nikkei falls 0.8 pct on yen, U.S. auto bailout eyed
* Nikkei falls 0.8 pct after gaining 9 pct in past 3 days
* Firmer yen, uncertainty over US auto bailout weigh on market
* Nikkei holds above its 25-day moving average (Adds stocks, details)
By Aiko Hayashi
TOKYO, Dec 11 (Reuters) - Japan's Nikkei average slipped 0.8 percent on Thursday, losing some gains made this week as the yen rose against other currencies and doubts emerged over whether a bailout plan for U.S. automakers will be quickly approved.
But some big stocks bucked the trend, with Sumitomo Mitsui Financial Group (8316.T: Quote, Profile, Research) climbing after a report that it would raise $7.6 billion in capital, much more than earlier plans, while Japan Tobacco Inc (2914.T: Quote, Profile, Research) jumped on a report that the tobacco tax would not be hiked.
Market analysts said investors locked in profits after the the benchmark Nikkei .N225 climbed 9.4 percent over the past three days, and sentiment was weak as traders kept a close eye on currency moves and the fate of U.S. automakers.
"The prospects for corporate earnings are dismal, and investors are in no position to keep buying stocks," said Kenichi Hirano, operating officer at Tachibana Securities.
"Charts seem to indicate the market might have hit a bottom, but I think it's still too premature to say it's completely bottomed out." Continued...
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