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Nikkei down on profit-taking, blue chips hold firm

Mon Aug 11, 2008 10:06pm EDT

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(Updates to midday)

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TOKYO, Aug 12 (Reuters) - Japan's Nikkei average slipped 0.7 percent on Tuesday as investors locked in profits following a three-week closing high on Monday, with Tokyo Electron Ltd (8035.T) and firms that had gained hit by selling. But Honda Motor Co (7267.T) and other blue-chip exporters held firm, while gains by large banks braked further slides and oil's fall below $113 a barrel on Monday helped boost shippers and Japan Airlines Corp (9205.T)

The benchmark Nikkei .N225 lost 95.04 points to 13,335.87 by the end of morning trade, while the broader Topix shed 0.2 percent to 1,277.66. (Reporting by Elaine Lies)

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