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Nikkei ends lower as technology shares weigh; Toshiba soars
June 12, 2017 / 6:28 AM / 6 months ago

Nikkei ends lower as technology shares weigh; Toshiba soars

TOKYO, June 12 (Reuters) - Japan’s Nikkei share average ended lower on Monday, dragged down by declines in technology shares after their U.S. counterparts were sold off sharply in the previous session.

The Nikkei ended down 0.5 percent at 19,908.58.

Chip manufacturing equipment makers and Apple suppliers led the declines, with Tokyo Electron ending 3 percent down, Advantest Corp closing down 3.3 percent, Alps Electric shedding 3.2 percent and Taiyo Yuden declining 3.1 percent.

On Friday, Apple Inc shares dropped 3.9 percent in their biggest daily percentage decline since April 2016, after a report that iPhones to be launched this year would use modem chips with slower download speeds than rival smartphones.

Bucking the weakness, Toshiba Corp surged more than 9 percent after a person familiar with the matter told Reuters that Western Digital Corp plans to raise its offer for Toshiba’s prized semiconductor unit to $18 billion or more.

The broader Topix was flat at 1,591.55. (Reporting by Ayai Tomisawa; Editing by Sherry Jacob-Phillips)

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