Japanese shares end lower on Wall St rout; Nikkei up nearly 1.4% for the week

  • Reuters
  • Stock Market News
Japanese shares end lower on Wall St rout; Nikkei up nearly 1.4% for the week
Credit: © Reuters.

TOKYO, Sept 4 (Reuters) - Japanese shares closed lower on Friday, after a sell-off in high-flying U.S. technology stocks pushed Wall Street to its steepest fall in nearly three months, although for the week, Tokyo markets ended in the green.

The benchmark Nikkei share average .N225 closed down 1.11% at 23,205.43, away from a more than six-month closing high it hit on Thursday. Declining issues outnumbered advancers by 161 to 54. The Topix .TOPX shed 0.90% to 1,616.60.

For the week, the Nikkei index gained nearly 1.4%, snapping two consecutive weekly losses, and the Topix climbed 0.7%.

Precision instruments .IPRCS.T , information and telecoms .ICOMS.T , and pharmaceuticals .IPHAM.T sectors were the three underperformers on the main bourse.

Overnight, Wall Street's main indexes posted their biggest single-day percentage declines since June, dragged by heavy losses across the technology sector. .N

The Nasdaq Composite .IXIC lost almost 5% a day after it posted a record close, with heavyweights including Apple Inc AAPL.O , Microsoft Corp MSFT.O and Amazon Inc AMZN.O weighing the most.

Semiconductor manufacturer Alps Alpine Co 6770.T was among the top percentage losers on the Nikkei index, with a drop of around 4%.

An overnight drop in the Philadelphia chip index .SOX , down almost 6%, was another headwind for the Tokyo-lsited technology sector.

Tokyo Electron 8035.T slid 2.73% and SoftBank Group Corp 9984.T lost 3.21%; Sony Corp 6758.T fell 1.64%.

Meanwhile, analysts said investors were also cautious ahead of the U.S. jobs data expected later in the day.

Among other shares, Honda Motor Co 7267.T climbed 2.23% after it revealed plans with General Motors (NYSE: GM ) GM.N to team up in North America to jointly develop a range of vehicles. Motor 7203.T also rose 0.79%, as its sales in China surged last month. the index of Mothers start-up market .MTHR slipped 2.61% to 1,139.90.

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