Nikkei edges down; China economic data gets muted reaction

Wed Jul 16, 2014 2:18am EDT

TOKYO, July 16 (Reuters) - Japan's Nikkei share average
edged down on Wednesday after staying nearly flat for most of
the session as investors took profits from gains the previous
day, while China's economic data received a muted reaction from
the market.
    China's economy expanded by 2.0 percent in the second
quarter from the previous quarter, taking annual growth to 7.5
percent. Retail sales and industrial output were either in line
with forecasts or slightly higher.
    The Nikkei ended 0.1 percent lower at 15,379.30
after it closed at a 1-1/2-week high the previous day.
    The broader Topix was flat at 1,273.59, and the
JPX-Nikkei Index 400 was also flat at 11,588.37.
    Investor risk appetite was curbed after U.S. momentum shares
dropped after Federal Reserve Chair Janet Yellen and her fellow
Fed policymakers raised concerns about high valuations in those
sectors. 

 (Reporting by Ayai Tomisawa; Editing by Jacqueline Wong)
 
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