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Nikkei lower on profit-taking

Wednesday, February 19 07:20:42

Japan's Nikkei share average fell today, retreating from a 2-1/2-week high hit the previous day, as investors took profit on banks and exporters a day after it had logged its biggest percentage gain in six months.

The Nikkei shed 0.5 percent to 14,766.53 after a 3.1 percent rise on Tuesday, which took it to the highest close since Jan. 31. The Topix shed 0.5 percent to 1,218.52

Exporters were weaker after enjoying rallies on Tuesday, with Honda Motor Co and Sony Corp both shedding 1.8 percent, as the yen rebounded from two-week lows.

The JPX-Nikkei Index 400, an index launched this year comprised of firms with high return on equity and strong corporate governance, dropped 0.4 percent to 11,029.16. (C) Reuters