May 14, 2014 / 8:34 AM / 3 years ago

Nikkei slips on profit-taking, JGC tumbles on poor forecasts

A man (L) looks at a stock quotation board outside a brokerage in Tokyo April 14, 2014.Issei Kato/Files

TOKYO (Reuters) - Japan's Nikkei average fell on Wednesday, slipping from a 1-1/2-week high on profit-taking after big gains the previous day, while JGC Corp tumbled after forecasting dismal profit.

The benchmark Nikkei ended 0.1 percent lower at 14,405.76.

Engineering company JGC plunged 13 percent and contributed 17.55 hefty negative points to the Nikkei after saying it expects a net profit of 42 billion yen for the year ending March 2015, a 11 percent drop on year.

The broader Topix added 0.4 percent at 1,183.15 and the new JPX-Nikkei Index 400 advanced 0.4 percent at 10,767.97.

Reporting by Ayai Tomisawa; Editing by Richard Borsuk

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