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Tokyo: Nikkei ends lower as stronger yen takes its toll
[TOKYO] Japan's Nikkei share average erased early modest gains on Thursday and edged down, as a stronger yen took its toll on market sentiment.
The Nikkei ended 0.1 per cent lower at 20,110.51, extending Wednesday's 0.5 per cent decline and moving further away from Tuesday's session high of 20,318.11 - its loftiest level since August 2015.
The dollar skidded 0.4 per cent against the yen to 111.04. "The Nikkei is heavy, as some investors continue to take profits on its recent rise and the yen strengthens," said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. "Some individual shares are rising on specific news, but overall, there are no big buying incentive factors," he said.
The broader Topix was 0.1 per cent lower on the day at 1,610.38 while the JPX-Nikkei Index 400 was down 0.1 per cent at 14,318.08.