SYDNEY, April 10 (Reuters) - Japanese shares dropped on Friday on profit-taking ahead of the weekend, with trading volume remaining low due to the Easter holidays abroad.
The benchmark Nikkei average .N225 slipped 0.1% to 19,326.78 by the midday break, despite overnight gains on Wall Street, as investors locked in some recent gains.
Bucking the broader weakness in Japanese equities, Nikkei heavyweight Fast Retailing Co Ltd 9983.T climbed 3.8% on earnings and forecast, helping to cap the benchmark's loses.
The owner of casual clothing chain Uniqlo forecast a 44% fall in full-year profit after the coronavirus outbreak hit sales in China and dealt a setback to its ambitions of conquering the U.S. and European markets. said the markets liked the fact that the fashion retailer provided a guidance, unlike many of its peers.
For the week, the Nikkei was up about 8.5%, which would be its second biggest weekly gain since July 2016 if sustained until the close.
The broader Topix .TOPX fell 0.5% to 1,409.43, with all but four of the 33 sector sub-indexes on the exchange trading in negative territory.
Ryohin Keikaku Co Ltd 7453.T shed 3.5% after the operator of Muji-brand retail stores reported its net profit for the business year ended in February fell 31%. activity was subdued, with the volume of shares traded on the main board valued at 1.04 trillion yen by the midday recess.
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