Nikkei Falls as Chip Sector Tumbles, Firm GDP Fails to Impress

Japan’s Nikkei fell on Friday morning as semiconductor-related shares tumbled after Morgan Stanley downgraded its view on the U.S. chip sector, which offset any boost from Japan’s better-than-expected second quarter economic growth.

The Nikkei share average dropped 0.4 percent to 22,513.93. For the week, it has shed 0.1 percent so far. The broader Topix dropped 0.6 percent to 1,730.39.

Chip equipment makers Tokyo Electron dropped 3.3 percent, Advantest Corp fell 3.5 percent and Screen Holdings shed 3.1 percent, while silicon-wafer maker Sumco Corp tumbled 5.1 percent.

Source : Reuters

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