Nikkei edges lower as weaker tech shares offset boost from financials

Tokai Carbon

13/12/2017 02:07

TOKYO, Dec 13 (Reuters) - Japan's Nikkei share average edged 
lower on Wednesday morning after tech stocks lost ground as they 
tracked their weaker U.S. counterparts, offsetting gains in the 
financial space. 
    The Nikkei 225 Index  .N225  fell 0.2 percent to 22,817.46 
in midmorning trade while the broader Topix  .TOPX  shed 0.1 
percent to 1,814.09. 
    Suppliers of Apple  AAPL.O  such as Murata Manufacturing 
 6981.T  lost 0.6 percent and Taiyo Yuden  6976.T  dropped 1.6 
percent after the U.S. tech giant's shares declined 0.6 percent 
overnight. 
    Chip equipment makers also stumbled, with Tokyo Electron 
 8035.T  falling 1.7 percent and Advantest Corp  6857.T  
declining 0.9 percent, while silicon wafer maker Sumco Corp 
 3436.T  tumbled 3.7 percent. 
    Gainers included financial stocks and shippers. Mitsubishi 
UFJ Financial Group  8306.T  surged 1.6 percent and Nomura 
Holdings  8604.T  advanced 0.8 percent. 
    Shippers Mitsui OSK Lines  9104.T  surged 0.8 percent and 
Nippon Yusen KK  9101.T  advanced 1.5 percent after the Baltic 
dry index of freight charges  .BADI  rose overnight again to its 
highest level since January 2014. 
    Declining issues outnumbered advancing ones 1,102 to 834 on 
the Tokyo Stock Exchange first section. 
 
 (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam) 
 ((ayai.tomisawa@thomsonreuters.com; 81-3-6441-1875; Reuters 
Messaging: ayai.tomisawa.thomsonreuters.com@reuters.net)) 
 
Keywords: JAPAN STOCKS/MIDDAY