Nikkei falls 1.6 pct after 3-day rally, BOJ eyed


(Updates to midafternoon) TOKYO, Oct 31 (Reuters) - The Nikkei average fell 1.6 percent on Friday as investors sold Japanese stocks that had rebounded sharply in a three-day rally, while they nervously awaited a rate decision by the Bank of Japan. Automakers skidded on worries about their earnings prospects, after downward revisions from rivals including Mazda Motor Corp . But the market trimmed earlier losses in afternoon trade as initial profit taking seemed to have run its course. ...

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