Nikkei down 5 pct after Bank of Japan trims rates

The Nikkei average dropped 5 percent on Friday after the Bank of Japan cut interest rates for the first time in seven years, though the cut was by a split vote and was smaller than the market had expected.

The benchmark Nikkei lost 452.78 points to close at the day's low of 8,576.98.

In the three-day rally to Thursday, the Nikkei gained nearly 30 percent.

The broader Topix shed 3.6 percent to 867.12.