Tokyo's Nikkei share average fell 0.78 percent on Thursday, as concerns about the impact of record high oil prices on global economies encouraged investors to take profits in retailer Aeon and other recent winners, Reuters reported. Bank shares, which had drawn buyers betting on a sustained Japanese economic recovery, rang up losses, though auto stocks gained after trade figures showed signs of a pick-up in exports. Analysts said the high oil prices and a fall in U.S. stocks put a damper on the Japanese market, which looks ripe for a correction after recent rapid gains. "The Japanese market can hold up under profit-taking pressure as long as U.S. markets stay firm," said Yumi Nishimura, manager of the investment advisory section at Daiwa Securities SMBC Co. "But we have to be careful." The Nikkei lost 97.10 points to 12,405.16, after closing above 12,500 on Wednesday for the first time since July 5, 2001. The broader TOPIX index slipped 0.59 percent to 1,268.06. --More 1137 Local Time 0837 GMT
