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Nikkei slips on profit-taking, trading firms solid

Mon May 19, 2008 10:09pm EDT

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(Updates to midmorning)

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TOKYO, May 20 (Reuters) - Japan's benchmark Nikkei average slipped 0.3 percent on Tuesday, dragged lower as investors locked in profits but buoyed by trading houses such as Mitsubishi Corp (8058.T), which were at or near highs for the year on strong commodity prices.

Yahoo Japan (4689.T) tumbled 3.7 percent after Reuters reported that Microsoft Corp (MSFT.O) has proposed to buy Yahoo Inc's (YHOO.O) search business, including Yahoo's stake in Yahoo Japan, according to a person familiar with the talks. [ID:nN19435039].

The Nikkei .N225 shed 45.49 points to 14,224.12, while the broader Topix edged down 0.1 percent to 1,402.60. (Reporting by Elaine Lies)

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