Nikkei snaps 5-day winning streak as yen firms
By Joshua Hunt
TOKYO, June 1 (Reuters) - Japanese stocks ended lower on Wednesday, snapping a five-session winning streak, as a stronger yen triggered profit-taking and dimmed the earnings outlook for exporters.
The Nikkei share average fell 1.6 percent to 16,955.73 points. Sell orders accelerated late in the day after the dollar fell below 110 yen, souring sentiment.
Shares of home appliance and electronics exporter Panasonic Corp slid 2 percent while Toyota Motor Corp declined 0.5 percent and tire maker Bridgestone Corp slipped 1.2 percent.
Total volume on the Tokyo Stock Exchange's first section was subdued at 1.995 billion shares. Turnover was 2.115 trillion yen ($1 billion), well below Tuesday's 1-month high of 2.874 trillion yen but above Monday's 1.560 trillion yen.
Japanese mobile app firms surged on news reports that messaging app operator Line Corp will soon launch its IPO and be listed on the Tokyo Stock Exchange.
Internet advertising and mobile app developer Adways Inc soared 7.7 percent while mobile content firms Neos Corp and Imagineer Co Ltd gained 5.9 percent and 4.8 percent, respectively. Mobile games developer Ateam Inc rose 2.8 percent.
The broader Topix fell 1.3 percent to 1,362.07 and the JPX-Nikkei Index 400 ended the day 1.4 percent lower at 12,283.58. ($1 = 109.9600 yen) (Reporting by Joshua Hunt; Editing by Kim Coghill)
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