Nikkei slips 1.3 pct as techs weigh; Toyota down

TOKYO, April 22 (BestGrowthStock) – Japan’s Nikkei average fell 1.3
percent on Thursday, with market players saying a weaker futures
market and the break of a closely-watched technical level helped
trigger long liquidation after the previous day’s rally.

Toyota Motor Corp (7203.T: ) fell 1.4 percent, extending
earlier losses after Moody’s Investors Service cut the recall-hit
firm’s credit ratings, saying that it expected the automaker’s
current low profitability to continue and that litigation costs
could be significant. [ID:TOE63L03A]

The benchmark Nikkei (.N225: ) fell 140.96 points to 10,949.09
after earlier falling as much as 2 percent, to 10,866.23. The
broader Topix (.TOPX: ) shed 0.9 percent to 978.17.

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(Reporting by Elaine Lies)

Nikkei slips 1.3 pct as techs weigh; Toyota down