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Nikkei slips on caution ahead of BOJ, Fast Retailing tumbles

TOKYO, Sept 20 Japan's Nikkei share average dipped on Tuesday as investors counted down to Wednesday's Bank of Japan policy decision amid speculation the central bank will make crucial changes to its massive easing programme.

The Nikkei ended down 0.2 percent at 16,492.15 points.

The Nikkei was primarily dragged down by selling in index-heavyweight Fast Retailing Co, which tumbled 5.4 percent and contributed a hefty 71 negative points to the index.

Traders said the sell-off in Fast Retailing was triggered by a Bloomberg report citing an analyst's comment that he is certain that the BOJ will stop buying exchange-traded funds tracking the Nikkei amid criticism that its use of the measure is distorting the market.

Fast Retailing is known to be a big beneficiary of such BOJ purchases.

The broader Topix rose 0.4 percent to 1,316.97 and the JPX-Nikkei Index 400 gained 0.4 percent to 11,812.31. (Reporting by Ayai Tomisawa; Editing by Kim Coghill)

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