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Nikkei down 0.1%, bank gains offset falls in techs

Wed Jul 9, 2008 10:15pm EDT

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(Updates to midday)

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TOKYO, July 10 (Reuters) - The Nikkei stock average shook off most of its earlier losses to end the morning down 0.1 percent on Thursday, with gains by banks offsetting declines in high-tech firms such as Canon Inc (7751.T).

The market opened lower following steep losses on Wall Street, but it reversed direction and briefly moved into positive territory as a feared jump in oil prices had not materialised after news of an Iran missile test on Wednesday.

The benchmark Nikkei .N225 ended the morning down 12.64 points at 13,039.49. The broader Topix lost 0.1 percent to 1,284.91.

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