Nikkei fall as index-heavy stocks weaken; Apple suppliers underperform

  • Reuters
  • Stock Market News
Nikkei fall as index-heavy stocks weaken; Apple suppliers underperform
Credit: © Reuters.

TOKYO, April 23 (Reuters) - Japan's Nikkei share average fell on Monday as index heavyweight stocks such as SoftBank and Terumo lost ground, offsetting gains in financials, which rallied after U.S. yields rose.

The Nikkei .N225 ended down 0.3 percent at 22,088.04 points.

Medical equipment maker Terumo Corp 4543.T tumbled 3.9 percent and SoftBank 9984.T shed 1.2 percent, collectively knocking nearly 30 points off the Nikkei.

Apple (NASDAQ: AAPL ) suppliers were sold after Morgan Stanley (NYSE: MS ) forecast weak demand for the tech giant's latest iPhones, a day after Taiwan Semiconductor 2330.TW raised fears of softer smartphone sales.

Murata Manufacturing 6981.T declined 1.3 percent and TDK Corp 6762.T dropped 2.0 percent.

Financial stocks, which invest in foreign bonds, outperformed following a rise in U.S. yields, with insurers T&D Holdings 8795.T up 4.2 percent, Dai-ichi Life 8750.T surging 4.0 percent and Mitsubishi UFJ Financial Group 8306.T 2.0 percent higher.

The broader Topix .TOPX was flat at 1,750.79.

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