Nikkei slips as Wall St fall triggers profit taking, Sharp extends slide

TOKYO, March 4 (Reuters) – Japan’s Nikkei share average dropped to a one-week low on Wednesday as an overnight fall in U.S. shares triggered profit-taking after the index scaled a 15-year peak earlier in the week.

The Nikkei ended 0.6 percent lower at 18,703.60 points.

Noticeable decliners included Sharp Corp, which dropped 5.3 percent after a cut to its credit rating by Standard & Poor’s. Sharp fell as much as 10 percent at one point on Tuesday after a source said it will seek new funds for further restructuring from its two main lenders.

The broader Topix ended 0.6 percent lower at 1,517.01 and the JPX-Nikkei Index 400 lost 0.7 percent to 13,777.51.

(Reporting by Shinichi Saoshiro; Editing by Kim Coghill)

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