Nikkei extends loss to 3 pct on profit-taking

* As-expected GDP figures lead to profit-taking

* Falls in oil, China shares cloud outlook for risk assets

TOKYO Aug 17 (Reuters) - Japan's Nikkei average fell 3 percent on Monday on profit-taking in the wake of its rise to 10-month highs last week, with resource-linked shares such as Inpex Corp (1605.T) retreating due to a slide in oil prices.

Data showing that Japan's economy grew 0.9 percent in April-June from the previous quarter, broadly in line with a median market forecast for 1.0 percent growth, prompted investors to lock in profits, market players said. [JPGD1=ECI]

While Japan's GDP posted its first expansion in five quarters, the data was a disappointment for some investors who had expected even stronger numbers, market players said.

In addition, falls in Chinese shares and oil prices have stirred worries about possible changes in the behaviour of short-term risk takers, said Mitsushige Akino, chief fund manager at Ichiyoshi Investment Management.

"The Nikkei has gained a lift from rises in overseas equities and an expansion in investors' risk tolerance. But there is a sense that this is approaching a limit," Akino said.

"That's why profit-taking is predominating," he said, adding that GDP was one factor behind such selling because some investors had been hoping the numbers would be stronger.

The Nikkei fell more than 3 percent at one point.

After trimming some losses, it was down 2.9 percent or 308.77 points at 10,288.56 .N225. On Friday, the Nikkei hit a 10-month intraday high of 10,630.38 and finished at a 10-month closing high of 10,597.33.

The broader Topix index fell 2.4 percent to 949.86 .TOPX.

Oil and gas developer Inpex slid 5.1 percent to 706,000 yen (1605.T), as oil prices fell below $67 a barrel CLc1 on Monday, extending the previous session's 4.3 percent decline. (Reporting by Masayuki Kitano; Editing by Michael Watson)