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Nikkei falls 1.1 pct, insurer merger report weighs

Wed Mar 11, 2009 10:12pm EDT

TOKYO, March 12 (Reuters) - Japan's Nikkei average fell 1.1 percent on Thursday after a nearly 5 percent rally the previous day, with investors taking profits in banking shares, while insurers fell after a merger report that reminded investors of the sector's severe business environment.

Stocks  |  Asian Markets  |  Japan

The benchmark Nikkei .N225 slipped 79.02 points to 7,297.10. It gained 4.6 percent on Wednesday, its biggest percentage rise in six weeks, a day after posting a 26-year closing low.

The broader Topix declined 2.2 percent to 706.35. (Reporting by Aiko Hayashi)

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