Nikkei dragged down by banks on poor earnings guidance
TOKYO, May 16 (Reuters) - Japan's Nikkei stock average fell on Thursday, reversing from a fresh 5-1/2-year high earlier in the session, after banks offered poor earnings guidance and as investors pocketed recent gains amid caution over market momentum. The benchmark Nikkei dropped 0.4 percent to 15,037.24 points, after rising as high as 15,155.72, a level last visited in January 2008. The Topix shed 0.6 percent to 1,245.23.
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