The Nikkei’s nine-day rally stopped, and the Bank of Japan’s move limits losses

Japan’s Nikkei fell on Monday, giving up a nine-day rally as investors book profits ahead of the end of the fiscal year this week.

The Nikkei index closed down 0.73 percent to 27,943.20 points, after rising about 12 percent in the past nine days, to touch its highest level in five weeks, which amounted to 28,338.81 points.

The broader Topix index fell 0.41 percent to 1973.37 points.

The price of the Japanese yen fell, surpassing the level of 123 yen to the dollar, after the Bank of Japan made a move to support the shares of exporting companies. Toyota Motor shares rose 0.59 percent and Nissan shares 1.81 percent.

The energy sector shares were the biggest gainer, increasing 1.61 percent after crude oil prices remained at their high levels despite their decline today.

The basic materials sector was the biggest loser, down 1.75 percent.

Chip stocks also declined, with Tokyo Electron down 1.31 percent and Advantest down 1.04 percent.