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tseTOKYO: Tokyo shares fell Thursday morning as dealers cashed in after a four-day rally and following a weak lead from US markets after the Trump administration unveiled the outlines of its tax plan.

Tax cuts have been one of Wall Street's top priorities since the November election of Donald Trump as president, but investors were underwhelmed by an announcement Wednesday that contained few specifics, sending US share prices down.

The Dow and broad-based S&P 500 both fell 0.1 percent, while the tech-rich Nasdaq Composite Index slipped off Tuesday's record high.

The highly anticipated tax plan was "short on new details" National Australia Bank currency strategist Rodrigo Catril said in a note.

The administration plans to dramatically cut taxes for US businesses and individuals, slashing the corporate rate to 15 percent.

But Catril added that it remains unclear if the plan in its current form has sufficient support to win congressional approval.

Tokyo's benchmark Nikkei 225 index lost 0.24 percent, or 45.67 points, to sit at 19,243.76 by the break, while the Topix index of all first-section issues edged down 0.09 percent, or 1.37 points, to 1,536.04.

"Shares that rose in past days are facing selling pressure on profit-taking," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities, told AFP. "But the yen's decline has provided a floor."

The losses came despite the dollar rising to 111.23 yen in Tokyo from 111.00 yen in New York.

A weak yen is positive for Japanese exporters as it inflates their repatriated profits.

The Bank of Japan is scheduled to wrap up a two-day policy meeting later in the session though few expect any major announcements.

Takata shares were suspended after the Nikkei business daily reported the airbag maker is considering selling all operations to a new company after it files for bankruptcy protection due to its massive recall of defective airbags.

The company, at the centre of the industry's biggest-ever safety recall, would not confirm the report.

Honda, Takata's top customer, fell 0.21 percent to 3,249 yen, while Toyota slipped 0.48 percent to 6,124 yen.

But Panasonic edged up 0.03 percent to 1,360.5 yen and Sony jumped 1.12 percent to 3,784 yen.

Copyright AFP (Agence France-Press), 2017

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