Nikkei Ends Flat as Chip Stocks Retreat After ASML Earnings

Japan’s Nikkei share average ended almost unchanged on Wednesday after giving up early gains as chip-related stocks retreated following earnings from ASML, according to Qatar News Agency.

The Nikkei 225 slipped 0.05% to 67,744.29, after climbing as much as 0.93% during the session. The broader Topix index fell 0.34% to 4,096.78. On the Tokyo Stock Exchange’s Prime Market, 57% of stocks declined, 38% rose and 3% were unchanged.

Nikkei: Chipmakers weigh, banks drag Topix

Tokyo Electron fell 2.73% and Advantest edged down 0.05%. Fiber-optic cable maker Fujikura gained 2.56% and Taiyo Yuden rose 3.59%. Bank shares weighed on the Topix, with Mizuho Financial Group down 2.87%, Mitsubishi UFJ Financial Group down 1.94% and Sumitomo Mitsui Financial Group down 1.85%.

The index had ended 1.8% lower on Tuesday, Reuters reported, when selling in AI and chip-related shares hit Tokyo after a three-day holiday weekend. On Wednesday, SoftBank Group supported the Nikkei early in the day, but the rebound faded late in the session ahead of the release of US inflation data, News On Japan reported.

Sources: Qatar News Agency via IndexBox; News On Japan; Reuters via Business Recorder.

#businessnews