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 >
Gold Edges Up in Holiday Trade Despite a Strengthening Dollar
Gold Edges Up in Holiday Trade Despite a Strengthening Dollar
Nov 28, 2024
09:06 AM EST, 11/28/2024 (MT Newswires) -- Gold edged higher early on Thursday even as the dollar rose in light electronic trade with U.S. exchanges closed for the Thanksgiving holiday. Gold for February delivery was last seen up US$5.10 to US$2,669.90 per ounce. The rise comes despite concerns the Federal Reserve will slow interest-rate cuts after the U.S. Personal Consumption...
Update: Gold Steady in Holiday Trade Despite a Strengthening Dollar
Update: Gold Steady in Holiday Trade Despite a Strengthening Dollar
Nov 28, 2024
02:00 PM EST, 11/28/2024 (MT Newswires) -- (Updates prices.) Gold was steady midafternoon on Thursday even as the dollar rose in light electronic trade with U.S. exchanges closed for the Thanksgiving holiday. Gold for February delivery was last seen up US$0.70 to US$2,665.50 per ounce. The rise comes despite concerns the Federal Reserve will slow interest-rate cuts after the U.S....
TSX Closer: The Market Closes at a Second-Straight Record High Despite U.S. Tariff Worries
TSX Closer: The Market Closes at a Second-Straight Record High Despite U.S. Tariff Worries
Nov 28, 2024
04:18 PM EST, 11/28/2024 (MT Newswires) -- The Toronto Stock Exchange closed at a second-straight record high on Thursday, with no direction from U.S. markets closed for the Thanksgiving holiday as questions continue over the effect of the 25% blanket tariff on Canadian exports to the country should President-elect Donald Trump following through on threats to impose the punishing levy....
Is The Stock Market Open On Thanksgiving?
Is The Stock Market Open On Thanksgiving?
Nov 28, 2024
The New York Stock Exchange (NYSE) and the bond market will be closed on Thursday, Nov. 28 for Thanksgiving. Markets will re-open at 9:30 am ET for regular trading on Black Friday, but the stock market will close early at 1 p.m. ET and the bond market will lose at 2 p.m. ET. What To Know: Historically, markets perform well...
Copyright 2023-2025 - www.financetom.com All Rights Reserved