Nikkei drops as investors take profits on quarterly gains; tankan eyed

martes 31 de marzo de 2015 02:35 GYT
 

* For the month, Nikkei gained 2.2 pct
    * For the quarter, index rose 10 pct
    * Coming BOJ tankan survey, U.S. job data eyed

    By Ayai Tomisawa
    TOKYO, March 31 (Reuters) - Japan's Nikkei share average
dropped on Tuesday, shedding early gains as investors took
profits on the last trading day of the quarter.
    The Nikkei benchmark fell 1.1 percent to 19,206.99
in choppy trade after rising to touch 19,607.25 in the morning.
    For the month, the Nikkei gained 2.2 percent and posted its
three straight monthly gains. For January-March, it advanced 10
percent, rising for a fourth consecutive quarter.
    "Since it was the last day of the fiscal year, derivatives
investors unwound their long positions on stocks, while such
domestic investors as pension funds were reluctant to buy," said
Kyoya Okazawa, head of global equities at BNP Paribas. "They
took profits before they make an entry again."    
     Traders also said that investors were awaiting key economic
news including the Bank of Japan's tankan survey on Wednesday
and U.S. jobs data on Friday.
    Bucking the weakness, Fujifilm Holdings Corp gained
1.5 percent after it agreed to acquire U.S. biotechnology firm
Cellular Dynamics International Inc (CDI) for $307
million. 
    Exporters , up at the start, lost ground on profit-taking,
with Toyota Motor Corp shedding 0.5 percent and Nissan
Motor Co 0.1 percent.
    The broader Topix declined 0.9 percent to 1,543.11
and the JPX-Nikkei Index 400 dropped 1.1 percent to
14,022.96.

 (Editing by Richard Borsuk)