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Tokyo shares dip on profit-taking, semiconductor stocks drop sharply

Published 14-07-2020, 09:29 am
© Reuters.

TOKYO, July 14 (Reuters) - Japan's benchmark Nikkei fell on Tuesday as investors booked profits after a sharp gain in the previous session, while semiconductor stocks and other high-tech firms took a hit from a weak Nasdaq performance overnight.

The benchmark Nikkei share average .N225 fell 0.84% to 22,593.27 during the midday break, after hitting a one-month high in the previous session. There were 96 advancers against 125 decliners on the index.

In the broader market, Topix .TOPX lost 0.48% to 1,565.49 by the recess, with all but eight of the 33 industry subindexes in the Tokyo Stock Exchange trading in the red.

Fish and forest .IFISH.T , mining .IMING.T and services .ISVCS.T were the three worst-performing sector subindexes on the main bourse.

Semiconductor shares were bruised by a 2.13% drop on the Nasdaq Composite index .IXIC , which was pulled down by Amazon (NASDAQ:AMZN), Microsoft (NASDAQ:MSFT) and other big-name leaders of Wall Street's recent rally as fresh coronavirus restrictions in California and mounting U.S.-China tensions triggered a selloff. .N

Advantest Corp 6857.T slipped 2.72%, while Screen Holdings Co Ltd 7735.T and Tokyo Electron Ltd 8035.T fell 2.22% and 1.71%, respectively.

Other high-tech shares also underperformed, with Fujitsu Ltd 6702.T falling 1.02% and Fanuc Ltd 6954.T inching down 0.29%.

Sony Corp 6758.T dropped 1.89%, after reaching its highest level since 2001 in the previous session.

Elsewhere, Nikkei heavyweight SoftBank Group Corp 9984.T fell 2.11% after a Wall Street report said the tech conglomerate is exploring options including a full or partial sale or public offering of British chip designer Arm Holdings.

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