Nikkei falls below key support on profit-taking, soft tankan survey

TOKYO, April 1 (Reuters) – Tokyo shares fell on Wednesday as investors sold recent gainers to lock in profit on the first day of the Japanese financial year and after a disappointing tankan business sentiment survey from the Bank of Japan.

Both the Nikkei share average and the Topix fell below their 25-day moving average, a key short-term support level, clouding the outlook for the market that posted its biggest gain in five quarters in January-March.

The Nikkei on Wednesday fell 0.9 percent to 19,034.84, closing below its 25-day average, at 19,158.60, for the first time since Feb. 3.

The broader Topix dropped 0.9 percent to 1,528.99, while the JPX-Nikkei Index 400 fell 1.0 percent to 13,890.43.

(Reporting by Hideyuki Sano; Editing by Richard Borsuk)

Nikkei Futures

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