TOKYO , Jan. 16 -- ( Kyodo ) _ (EDS: ADDING INFO) Tokyo stocks gave up early gains prompted by upbeat U.S. and Japanese economic indicators to end Thursday slightly lower as market players moved to lock in recent gains after the Nikkei rose to a one-week high. The 225-issue Nikkei Stock Average ended down 61.53 points, or 0.39 percent, from Wednesday at 15,747.20. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 0.13 points, or 0.01 percent, lower at 1,294.39. The market opened higher, benefiting from the S&P 500 index's rise to a record high following strong earnings from Bank of America and better-than-expected manufacturing data from the Federal Reserve Bank of New York . Also lifting market sentiment was data showing Japan's core private-sector machinery orders rose a seasonally adjusted 9.3 percent on the month in November to their highest level in over five years. A wide range of shares attracted buying in the early deals, lifting the Nikkei to its one-week high of 15,941.08. But after the initial round of buying ran its course, the upward momentum fizzled and the Nikkei slipped into the negative column in the afternoon, led by losses in mainstay shares as the U.S. dollar pared some of its early gains against the yen. With the yen's depreciation taking a pause, investors moved to lock in recent gains, brokers said. The Nikkei surged about 390 points on Wednesday after slumping nearly 500 points on Tuesday. "There are abundant needs for profit-taking for those who bought" at lower levels before the rebound on Wednesday, Toshikazu Horiuchi , equity strategist at IwaiCosmo Securities Co. , said, adding that it is difficult to recoup all of the 500-point loss so soon. Ayako Terada at Nomura Securities Co.'s investment research department said Tokyo stocks are likely to remain vulnerable to the outcome of upcoming U.S. corporate earnings and economic reports before investors' attention shifts to Japanese earnings reports, due out later this month. Declining issues outnumbered advancing ones 849 to 804 on the First Section, while 125 closed unchanged. Fast Retailing -- the day's largest contributor to the Nikkei's slide -- tumbled 935 yen , or 2.4 percent, to 38,820 yen , while losses in Fanuc and Dentsu also weighed on the key market gauge. Banking shares were also sluggish with Mizuho Financial Group falling 4 yen , or 1.7 percent, to 230 yen and Sumitomo Mitsui Financial Group losing 43 yen , or 0.8 percent, to 5,352 yen . By sector, consumer finance, paper and pulp, and warehouse shares lost ground in particular, while air transport, metal and utility shares advanced. Trading volume on the main section came to 3,155.72 million shares, up from Wednesday's 2,688.17 million shares.
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