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Tokyo: Nikkei falls as bond yield drops to record low, wary ahead of Fed, BOJ

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[TOKYO] Japan's Nikkei share average fell on Friday after 10-year government bond yields dropped to a record low, rattling investors who were already cautious ahead of policy decisions from the US Federal Reserve and Bank of Japan next week.

The Nikkei fell 0.4 per cent to 16,601.36 points. For the week, it dropped 0.2 per cent.

Earlier in the day, the 10-year government bond yield dropped to minus 0.140 per cent.

The broader Topix fell 0.5 per cent to 1,330.72 and the JPX-Nikkei Index 400 shed 0.5 per cent to 11,981.60.

The Fed holds a policy meeting through June 14-15, while the Bank of Japan concludes its two-day policy meeting on June 16.