TOKYO, March 11 (Reuters) - Japanese shares closed higher on Thursday as investors picked up beaten-down cyclical stocks, although gains were capped by investors cutting their positions in some index heavyweights.
"Growth-related shares have helped the market, but a sell-off in index heavyweights has also weighed," said Koichi Kurose, chief strategist, Resona Asset Management.
The Nikkei had rallied to a 30-year high last month on expectations of an economic rebound and better-than expected corporate earnings.
Shinsei Bank 8303.T jumped 5.46% after a report that the bank acquired a 10% stake in Australia's credit cards and consumer finance company Latitude Financial Group.
Medical equipment maker Terumo 4543.T , down 2.2%, weighed on the Nikkei index the most, followed by Tokyo Electron.
The underperformers among the Topix 30 were Murata Manufacturing, followed by Keyence Corp 6861.T losing 2.73%.
There were 127 advancers on the Nikkei index against 93 decliners.
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