🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

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

Published 14-07-2020, 09:29 am
© Reuters.
JP225
-
MSFT
-
AMZN
-
IXIC
-
TOPX
-
7735
-
8035
-
6702
-
6758
-
6857
-
6954
-
9984
-
IFISH.T
-
IMING.T
-
ISVCS.T
-

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.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.