(Updates with closing stock prices)

By Junko Fujita

TOKYO, Oct 28 (Reuters) - Japan's Nikkei share average

slipped from a record high on Tuesday, as investors locked in

profits after a fast-paced rally, with a stronger yen weighing

on sentiment.

The Nikkei fell 0.58% to end at 50,219.18, after

falling as much as 0.8% during the session.

The broader Topix closed 1.18% lower at 3,285.87.

The indexes extended losses as the yen strengthened after

U.S. Treasury Secretary Scott Bessent called for "sound monetary

policy" during his meeting with Japanese counterpart Satsuki

Katayama.

The comments were seen as a blow to the Bank of Japan, which

had been raising interest rates slowly.

"The market sold stocks as they thought the yen would not

weaken any further," said Shuutarou Yasuda, a market analyst at

Tokai Tokyo Intelligence Laboratory.

A stronger yen typically weighs on exporter shares by

reducing the value of overseas earnings when converted back into

Japanese currency.

Toyota Motor ( TM ) and Honda Motor ( HMC ) lost 1.46%

and 1.39%, respectively.

Investors also sold stocks to book profits. The Nikkei rose

2.46% to close above the 50,000 level for the first time ever on

Monday, continuing a run of successive records on expectations

of sizeable spending from the nation's new prime minister, Sanae

Takaichi.

Nidec ( NNDNF ) plunged 19.45% to its daily low limit, after

the Tokyo Stock Exchange (TSE) put the precision motor maker on

alert for possible delisting.

Pulling the index lower, chip-testing equipment maker

Advantest ( ADTTF ) fell 0.41% and Uniqlo-brand owner Fast

Retailing ( FRCOF ) lost 1.18%.

Technology investor SoftBank Group rose 3.22% to be

the biggest support for the Nikkei. Chip-making equipment maker

Tokyo Electron ( TOELF ) rose 2.71%.

Optimism around growth and capital expenditures related to

U.S. artificial intelligence continues to support investor

sentiment, said Kazuaki Shimada, chief strategist at IwaiCosmo

Securities, adding that the market is hopeful about the

prospects of a U.S.-China trade deal.