Japan's Nikkei sags as automakers slip on softer U.S. sales

  • Reuters
  • Stock Market News
Japan's Nikkei sags as automakers slip on softer U.S. sales

TOKYO, May 2 (Reuters) - Japan's Nikkei share average dipped on Wednesday, weighed by weaker automakers, although the dollar's rise to three-month highs versus the yen and positive sentiment toward tech stocks helped curb some of the losses.

The Nikkei .N225 was 0.24 percent lower at 22,454.91 and the broader Topix .TOPX dropped 0.25 percent to 1,769.72.

Automakers slipped after several posted weaker new U.S. vehicle sales in April with consumer demand in the world's largest economy continuing to soften. Motor Corp 7203. , which posted a 4.7 percent decline in April U.S. sales, slipped 0.6 percent. Nissan Motor Co 7201.T fell 1.2 percent after its April U.S. sales fell 28 percent and Honda Motor Co 7267.T was down 2.1 percent after its April U.S. sales declined 9.2 percent.

Technology firms were buoyant after Apple Inc's AAPL.O March quarter results topped Wall Street forecasts. parts manufacturer Murata Manufacturing Co 6981.T gained 2.1 percent, electronic material maker TDK Corp 6762.T climbed 1.7 percent and industrial tape and LCD manufacturer Nitto Denko Corp 6988.T advanced 4 percent.

A weaker yen also helped exporter stocks. Konica Minolta Inc 4902.T was up 1.2 percent. Chip equipment makers Tokyo Electron 8035.T and Advantest Corp 6857.T rose 0.4 percent and 3.4 percent, respectively.

Japanese financial markets will be closed on Thursday and Friday for national holidays.

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