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TOKYO: Japan's Nikkei average fell 0.2 per cent Tuesday on profit-taking after the market hit a six-week high the day before, while shares of Fujitsu extended losses on a dispute with its former president.
In light trade, the benchmark Nikkei shed 18.27 points to 10,567.65, after hitting its highest close since Jan 22 Monday. It gained more than 4 per cent in the previous two trading days. The broader Topix fell 0.3 per cent to 924.38.
Market players said technical indicators show the Nikkei is getting closer to levels where it may be considered overbought, with the benchmark's relative strength index (RSI) at around 60. Anything above 70 is considered overbought. Some analysts said foreign investors appeared to be buying shares, while Japanese investors were selling.
Fujitsu sank 3.9 per cent to 546 yen to become the biggest decliner among the Nikkei 225 issues on investor worries. Fujitsu stock shed 2.7 per cent the previous day. Some 1.6 billion shares traded on the Tokyo exchange's first section, below last month's daily average of 2 billion shares and well below last year's daily average of 2.3 billion. Declining stocks outnumbered advancing ones, 920 to 589.-Reuters
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