July 7, 2014 / 6:25 AM / in 4 years

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
    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)
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