financetom
Market
financetom
/
Market
/
Japan's Nikkei falls as chip-related stocks track US peers lower
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Japan's Nikkei falls as chip-related stocks track US peers lower
Mar 13, 2024 8:48 PM

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

fell on Thursday, as heavyweight chip-related stocks tracked

U.S. peers' declines overnight, while gains in energy shares

limited the losses.

The Nikkei was down 0.18% at 38,625,22 by the midday

break, set for a fourth straight session of falls.

The broader Topix was little changed at 2,648.66.

"Japan's major chip stocks mirrored the weak performance of

U.S. chip stocks. It looks like the fever for Nvidia ( NVDA ) is over,"

said Shigetoshi Kamada, general manager at the research

department at Tachibana Securities.

"For the Nikkei to cross the 40,000 level again, Tokyo

Electron ( TOELF ) and its peers need to get a boost."

The S&P 500 and Nasdaq edged lower overnight as

investors took profits in chipmaker stocks. The index of

semiconductors lost 2.5%, with shares of Nvidia ( NVDA ).

which propelled a sharp rally in Japanese chip-related shares,

slipping 1.1%.

The Nikkei crossed 40,000 for the first time earlier this

month, driven by gains of chip-making equipment maker Tokyo

Electron ( TOELF ) and chip-testing equipment maker Advantest ( ADTTF )

.

On Thursday, Tokyo Electron ( TOELF ) and Advantest ( ADTTF ) lost 1.82% and

2.87%, respectively. Silicon-wafer maker Shin-Etsu Chemical ( SHECF )

lost 1.83%.

Refiners jumped 4.24% to become the top performer

among the 33 industry sub-indexes on the Tokyo Stock Exchange,

with Eneos Holdings ( JXHGF ) rising 5.14%.

Energy explorers rose 4.17%.

Nissan Motor ( NSANF ) rose 2.3% after a local television

network TV Tokyo reported that the automaker is considering

seeking a business partnership with Honda Motor ( HMC ), while

the Nikkei business daily said they could collaborate on

electric vehicles.

Honda ( HMC ) rose 0.98%.

Uniqlo-brand owner Fast Retailing ( FRCOF ) rose 1.2% to

become the biggest support for the Nikkei.

Of the 225 components on the Nikkei, 151 stocks rose and 74

fell.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Futures extend gains after July PPI data
Futures extend gains after July PPI data
Aug 13, 2024
(Reuters) - U.S. stock index futures extended their gains on Tuesday after a producer prices report showed abating inflation pressures, keeping the Federal Reserve on track to cut interest rates in September. Data from the U.S. Labor Department showed the producer price index rose 0.1% on a monthly basis in July, compared to the 0.2% rise expected by economists polled...
Nvidia, Philip Morris International And 2 Other Stocks Insiders Are Selling
Nvidia, Philip Morris International And 2 Other Stocks Insiders Are Selling
Aug 13, 2024
The Nasdaq 100 closed higher by around 0.2% during Monday's session. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an...
Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Tuesday as Investors Focus on Inflation Data Releases
Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Tuesday as Investors Focus on Inflation Data Releases
Aug 13, 2024
08:26 AM EDT, 08/13/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was up 0.4% and the actively traded Invesco QQQ Trust (QQQ) was 0.6% higher in Tuesday's premarket activity, as investors focus on the upcoming inflation data releases. US stock futures were mixed, with S&P 500 Index futures up 0.2%, Dow...
Traders Await Inflation Data, Stifling US Equity Futures Pre-Bell
Traders Await Inflation Data, Stifling US Equity Futures Pre-Bell
Aug 13, 2024
08:01 AM EDT, 08/13/2024 (MT Newswires) -- US equity futures were little changed Tuesday as traders looked ahead to wholesale inflation data. The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures gained 0.2%, and Nasdaq futures were up 0.4%. Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $81.69 per barrel and...
Copyright 2023-2025 - www.financetom.com All Rights Reserved