Japan's Nikkei average slipped 1.2 percent

TOKYO, Dec 11 (Reuters) - Japan's Nikkei average slipped 1.2 percent on Thursday, losing some gains made the previous day on a stronger yen and as uncertainty over quick approval for U.S. auto rescue plans pressured recent gainers such as Advantest (nyse: ATE - news - people ).

But some big stocks bucked the trend, with Sumitomo Mitsui Financial Group climbing after a report that it would raise $7.6 billion in capital, much more than earlier plans, while Japan Tobacco Inc jumped on a report that the tobacco tax would not be hiked.

"Japanese stocks had already priced in gains on Wall Street yesterday and investors are discouraged by the yen that has firmed since around the market open," said Yutaka Miura, a senior technical analyst at Shinko Securities.

"Investors also want see how the U.S. auto industry bailout pans out, with approval by the Senate looking a bit uncertain."

The benchmark Nikkei fell 99.42 points to 8,560.82, although it was still above its 25-day moving average. It gained over 3 percent the previous day to book its highest close since Nov. 12.