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Nikkei slips as property sinks, trading houses rise

Wed Aug 13, 2008 10:10pm EDT

(Updates to midday)

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TOKYO, Aug 14 (Reuters) - Japan's Nikkei stock average lost 0.3 percent on Thursday, caught between property shares sliding after the collapse of peer Urban Corp 8868.T and a surge by trading houses on strong oil prices. [ID:nT134203] [O/R] Banks slid in the wake of bad news for their U.S. peers -- including a ratings cut of four major investment banks -- while exporters were shaky on worries about the global economy. The benchmark Nikkei .N225 lost 39.16 points to 13,983.89, while the broader Topix was down 0.6 percent at 1,239.40. (Reporting by Elaine Lies)

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