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Tokyo: Nikkei slips on profit taking after BOJ-inspired rally

Tuesday, February 2, 2016 - 14:21
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Japanese shares slipped on Tuesday as investors locked in profits from large gains made following the Bank of Japan's surprise decision late last week to adopt negative interest rates.

[TOKYO] Japanese shares slipped on Tuesday as investors locked in profits from large gains made following the Bank of Japan's surprise decision late last week to adopt negative interest rates.

The Nikkei ended 0.6 per cent lower at 17,750.68 points, pulling away from a four-week high of 17,905.37 scaled on Monday.

Real estate shares dropped 3.3 per cent and non-bank shares lost 2.5 per cent after rallying for the past two days.

Defensive shares remained well bid, with drugmakers rising 3 per cent. The broader Topix lost 0.7 per cent to 1,452.04. The JPX-Nikkei Index 400 shed 0.8 per cent to 13,117.17.

REUTERS