SYDNEY, May 1 (Reuters) - Japanese shares retreated from a near eight-week peak on Friday, led by declines in chipmaking firms and as investors chose to re-shuffle the deck following a streak of earnings reports.
The benchmark Nikkei average .N225 fell 2.8% to 19,619.35 points, erasing Thursday's 2.6% gain, with overnight Wall Street losses and weaker U.S. stock futures weighing. E-Mini futures for the S&P 500 ESc1 last traded down 1.6%.
The Nikkei, however, was up 1.9% for the week. The index climbed 6.7% in April, marking it best month since October 2017.
In Tokyo, shares of semiconductor-related stocks tracked losses in their U.S. peers, after the Philadelphia semiconductor index .SOX tumbled 3.7% overnight.
The broader Topix .TOPX shed 2.2% to 1,431.26, also off an eight-week high marked on Thursday, with all of the 33 sector sub-indexes on the Tokyo exchange finishing lower.
Even companies whose earnings results didn't disappoint investors were not immune from the broad-based selling.
Kagome Co Ltd 2811.T slipped 1.2% even though the tomato processor posted a 42.0% jump in net profit for the financial year ended in March. Manufacturing Co Ltd 6981.T lost 2.0% after the electronic parts maker reported a 5.1% drop in annual operating profit, which beat the company's initial guidance. said the earnings reports prompted some investors to book profits ahead of a long holiday weekend. Markets in Japan will be closed until Wednesday for the annual Golden Week holidays.
Mitsubishi UFJ Financial Group (MUFG) Inc 8306.T dropped 4.4% as the country's largest banking group cut its annual net profit estimate by 30%, primarily due to a one-off charge at its Thai unit. Z Holdings Corp 4689.T , formerly known as Yahoo Japan, bucked the broader trend to advance 1.7% after the internet services firm posted an 8.4% increase in operating profit for the year ended March.
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