TOKYO, Oct 18 (Reuters) - Japanese shares closed slightly lower on Monday, as investors booked profits following a recent rally, although automakers gained after Toyota Motor hinted that it could still hit its full-year output plan despite chip shortages. Investors were also cautious on rising uncertainty on the Chinese economy as debt-laden property firm China Evergrande Group struggles for its survival and as the country’s GDP slowed in the third quarter. The Nikkei share average inched down 0.15% to close at 29,025.46, after posting its first weekly gain in four last week. “A lot of investors would like to take profits when the Nikkei is above 29,000. My feeling is they are also wary of Evergrande’s troubles ahead of its deadline to avoid default,” said Hiroyuki Ueno, senior strategist at Sumitomo Mitsui Trust Asset Management. The broader Topix lost 0.23% to 2,019.23 but Topix transport equipment maker index rose 1.86% to reach its highest levels since 2015. Toyota Motor rose 2.22% after it cut its planned global output for November by as much as 15% due to ongoing chip shortages, but indicated it would ramp up production from December by sticking to its latest full-year production target. Peers Suzuki Motor rose 2.43%, while Subaru added 1.95% and car part maker Denso gained 3.16% on a weaker yen. Resource-related shares were another bright spot thanks to the strength of commodity market. Mitsui Mining rose 5.23%, while Sumitomo Metal added 2.75% and oil explorer Inpex gained 4.88%. BayCurrent Consulting lost 14.31% as its solid quarterly earnings fell short of strong investor expectations. Its stock price is still up more than 130% so far this year. r. Fintech start-up Money Forward tumbled 12.42% after it reported larger-than-expected quarterly losses. Pasona lost 7.76% after investors were underwhelmed by the staffing service firm’s quarterly results. (Reporting by Hideyuki Sano, additional reporting by Junko Fujita; editing by Uttaresh.V) Our Standards: The Thomson Reuters Trust Principles.
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