(Updates with closing prices)

TOKYO, May 14 (Reuters) - Japan's Nikkei share average

fell on Wednesday as investors booked profits from a recent

rally, while the broader Topix snapped its longest winning

streak in nearly 16 years.

The Nikkei reversed earlier gains to end 0.14% lower

at 38,128.13. However, the index recovered from an intraday low

of 37,865.22.

The broader Topix fell 0.32% to 2,763.29, snapping a

13-day winning streak, the longest since August 2009.

The Nikkei hit a three-month high on Tuesday, buoyed by

hopes of more deals between major economies after the U.S. and

China agreed to temporarily slash the harsh reciprocal tariffs.

"The market had set the 38,000 as a target after the Nikkei

tanked last month, following the announcement of (U.S. President

Donald) Trump's tariffs," said Hiroyuki Ueno, chief strategist

at Sumitomo Mitsui Trust Asset Management.

"The index hit that target earlier than expected, and that

prompted investors to sell stocks to book profits today."

Uniqlo-brand owner Fast Retailing ( FRCOF ) slid 1.09% to

drag down the Nikkei the most. Toyota Motor ( TM ) lost 3.53%.

Sony ( SONY ) gained 3.67% after forecasting a 0.3% rise in

its annual operating profit in the financial year ending March

2026.

Yaskawa Electric ( YASKF ) fell 1.88% after the robot maker

was excluded from MSCI's standard index in a routine reshuffle.

Of more than 1,600 stocks trading on the Tokyo Stock

Exchange's prime market, 34% rose, 63% fell and 1% traded flat.