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 >
Olive Garden-owner Darden partners with Uber for delivery; shares jump
Olive Garden-owner Darden partners with Uber for delivery; shares jump
Sep 22, 2024
Sept 19 (Reuters) - Olive Garden-owner Darden Restaurants said on Thursday it has entered into a delivery deal with Uber Technologies ( UBER ), sending its shares up about 7% in premarket trading. The partnership is set to kick off as a pilot program at some Olive Garden ( DRI ) locations in the United States in late 2024 and...
US STOCKS-Fed rate cut boosts futures as growth stocks lead gains
US STOCKS-Fed rate cut boosts futures as growth stocks lead gains
Sep 22, 2024
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) * Futures up: Dow 0.96%, S&P 500 1.34%, Nasdaq 1.82% Sept 19 (Reuters) - U.S. stock index futures surged on Thursday, with those tracking the Nasdaq climbing nearly 2% following the Federal Reserve's move to start its easing cycle with...
US bank stocks rise as jumbo rate cut eases default risk, cost concerns
US bank stocks rise as jumbo rate cut eases default risk, cost concerns
Sep 22, 2024
(Reuters) - U.S. bank stocks rose in premarket trading on Thursday, a day after the Federal Reserve cut interest rates by 50 basis points, which is expected to reduce deposit costs and alleviate pressure on borrowers. Elevated interest rates have weighed on loan growth and consumer spending this year, while also increasing fears of borrowers defaulting on their loans. Commercial...
Euro zone bond yields muted after Fed rate cut
Euro zone bond yields muted after Fed rate cut
Sep 22, 2024
LONDON, Sept 19 (Reuters) - Euro zone government bond yields were muted on Thursday, a day after the Federal Reserve kicked off its easing cycle with a larger than usual interest rate cut but signalled policy moves would be measured through the end of the year. The Fed lowered its key interest rate by 50 basis points (bps) to the...
Copyright 2023-2025 - www.financetom.com All Rights Reserved