November 13, 2017 / 6:24 AM / in a year

Nikkei drops to near 2-week low; real estate, brokers weak

TOKYO, Nov 13 (Reuters) - Japan's Nikkei dropped to a near two-week low on Monday as many sectors, including real estate and brokerage firms, languished after recent rallies, offsetting gains in companies with strong results such as Nissin Foods.

The Nikkei ended 1.3 percent lower to 22,380.99, the lowest closing level since Oct. 31 and its fourth straight daily decline. The broader Topix dropped 0.9 percent to 1,783.49. Turnover was 2.7 trillion yen, the lowest level in 2-1/2 weeks.

Big losers included real estate firms, brokerage firms and construction companies, with Mitsui Fudosan shedding 4.1 percent, Mitsubishi Estate Co falling 2.6 percent, Nomura Holdings declining 2.5 percent and Taisei Corp tumbling 2.7 percent.

Bucking the weakness, instant food maker Nissin Foods Holdings Co rose 7.2 percent after hitting a record high of 7,830 yen after its April-Sept net profit jumped 15.5 percent to 14.11 bln yen ($124.2 million).

Tech shares also lost ground, with Tokyo Electron sliding 1.4 percent and Advantest shedding 2.1 percent.

Reporting by Ayai Tomisawa; Editing by Shri Navaratnam and Sam Holmes

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