Profit-taking pulls Nikkei from 5-1/2-mth high
TOKYO, July 7 (Reuters) - Japanese shares fell on Monday as profit-taking kicked in after it advanced to a 5-1/2-month high in the previous session. But traders said the market was underpinned by expectations of further buying by domestic pension funds, which has been a major driving force behind the market's rally in the last two months. The benchmark Nikkei average shed 0.4 percent to end at 15,378.44 points, still not far from Friday's 5-1/2-month closing high of 15,437.13. But trading was lackluster with volumes falling to the lowest level in a month due to the long U.S. weekend. The broader Topix dropped 0.4 percent at 1,279.87, while the JPX-Nikkei Index 400 fell 0.5 percent to 11,621.21. (Reporting by Tomo Uetake; Editing by Kim Coghill)
© Thomson Reuters 2017 All rights reserved.