January 24, 2018 / 6:25 AM / a year ago

REFILE-Nikkei falls as strong yen dents exporters, offsetting real estate sector gains

(Corrects day of week in first paragraph)

TOKYO, Jan 24 (Reuters) - Japanese stocks fell on Wednesday as concerns over gains in the yen saw exporters lose further ground in afternoon trade and offset strength in real estate firms.

The Nikkei ended 0.8 percent lower at 23,940.78, moving away from 24,129.34 hit on the previous day, the highest level since November 1991.

The dollar fell below the 110 yen threshold for the first time in four months, drawing selling interest in exporters whose earnings have been bumped up by a soft yen.

Fanuc Corp tumbled 3.7 percent, Nintendo Co declined 1.9 percent and Tokyo Electron shed 1.7 percent.

Banking shares also lost ground, with Mitsubishi UFJ Financial Group down 2.1 percent and Sumitomo Mitsui Financial Group off 1.9 percent.

On the other hand, stocks sensitive to domestic-demand such as real estate companies soared. Mitsui Fudosan jumped 1.8 percent and Mitsubishi Estate advanced 1.2 percent.

The broader Topix shed 0.5 percent to 1,901.23. (Editing by Shri Navaratnam)

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