TOKYO, Nov 15 (Reuters) - Japan's Nikkei share average fell to a two-week low on Wednesday, with all sectors in negative territory as investors took profits following a two-month rally that pushed up the market by about 20 percent.
The Nikkei .N225 ended 1.6 percent lower at 22,028.32, its lowest close since Oct. 31.
Traders said foreign investors were taking profits from the two-month rally, in which they bought a total of 5.4 trillion yen ($47.7 billion) in Japanese cash stocks and futures.
Retail investors have also been sellers. Japanese mutual funds posted record monthly net inflows in October as retail investors poured into money reserve funds after locking in profits from rising domestic stocks and equity funds, the Investment Trusts Association said. Overall mutual funds, or investment trust funds, posted a record net inflow of 13.17 trillion yen ($116.4 billion) in October.
Declines were seen across the board on Wednesday, with the biggest losers including mining stocks, steelmakers and real estate firms, as well as automakers.
Inpex Corp 1605.T stumbled 3.7 percent, Nippon Steel & Sumitomo Metal Corp 5401.T declined 3.3 percent, Mitsui Fudosan Co 8801.T dived 3.6 percent, while Toyota Motor Corp 7203.T and Honda Motor Co 7267.T both fell 2.4 percent.
The broader Topix .TOPX dropped 2.0 percent to 1,744.01, with all of its 33 subsectors in negative territory. ($1 = 113.1700 yen)
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.