Japan Equities (EWJ) And Nikkei Diffusion Index (DI)
Headline: Nikkei drops on profit-taking, China growth target letdown
TOKYO, March 5 (Reuters) - Japan's Nikkei share average dropped on Monday as profit-taking from domestic investors mounted near key chart levels and as Asian shares
slipped on disappointment after China announced its lowest annual growth target in eight years.
Selling from Japanese institutional investors could cap gains in the Nikkei in coming weeks ahead of their book closing on March 31, though the yen's decline last month is seen providing support, market players said.
The benchmark Nikkei fell 0.8 percent to 9,698.59, slipping from Friday's seven-month closing high of 9,777.03 while the broader Topix index shed 0.6 percent to 832.86.
After a stellar 10.5 percent rally last month, the Nikkei has stalled around 9,800 points with technical resistance seen near 9,838 -- a 61.8 percent retracement of its fall from February to November last year.