TOKYO, July 7 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
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
(Reporting by Tomo Uetake; Editing by Kim Coghill)