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Nikkei slips on profit-taking, JGC tumbles on poor forecasts
May 14, 2014 / 8:34 AM / 4 years ago

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

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.

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

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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