Nikkei falls below key support on profit-taking, soft tankan survey
TOKYO, April 1 (Reuters) - Tokyo shares fell on Wednesday as investors sold recent gainers to lock in profit on the first day of the Japanese financial year and after a disappointing tankan business sentiment survey from the Bank of Japan. Both the Nikkei share average and the Topix fell below their 25-day moving average, a key short-term support level, clouding the outlook for the market that posted its biggest gain in five quarters in January-March. The Nikkei on Wednesday fell 0.9 percent to 19,034.84, closing below its 25-day average, at 19,158.60, for the first time since Feb. 3. The broader Topix dropped 0.9 percent to 1,528.99, while the JPX-Nikkei Index 400 fell 1.0 percent to 13,890.43. (Reporting by Hideyuki Sano; Editing by Richard Borsuk)
© Thomson Reuters 2016 All rights reserved.