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Japan’s Nikkei decline amid profit-taking

The Japanese Nikkei index fell at the close on Wednesday for the second day in a row, amid investors taking profits that came after a wave of rises in the market recently.

Fast Retailing pressured the index after the company that owns the Uniqlo brand announced a decline in monthly sales.

The Nikkei index fell 0.25 percent to close at 33338.70, but it compensated for most of its losses, which had reached 1 percent earlier in the session.

The broader Topix index ended the session at an almost stable level, declining only by 0.01 percent, to record 2,306.03 points.

Fast Retailing fell 2.54 percent, putting the biggest pressure on the Nikkei after the company reported a 3.4 percent decline in June sales.

Contact lens company Hoya fell 2.86 percent, becoming the biggest loser on Nikkei.

Chipmaker Tokyo Electron fell 0.35% and medical equipment maker Terumu fell 1.61%.

But Daiichi Sankyo rose 6.82 percent to become the biggest gainer on the Nikkei, after it plunged 15 percent in the previous session.

The pharmaceutical companies sector rose 1.78 percent, with Sumitomo Pharma recording a jump of 3.5 percent.

Kawasaki Kisen Kaisha Shipping rose 5.58 percent, lifting the entire freight sector to be the best performing sector on the Tokyo Stock Exchange out of 33 sub-sectors.

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