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Nikkei falls in choppy trade, chip-related stocks underperform
November 27, 2017 / 2:41 AM / 22 days ago

Nikkei falls in choppy trade, chip-related stocks underperform

TOKYO, Nov 27 (Reuters) - Japan’s Nikkei share average fell on Monday morning in choppy trade after a slightly stronger yen sapped investors’ risk appetite, sending stocks such as chip-related firms lower.

The Nikkei dropped 0.3 percent to 22,474.98 by the midday break, after opening 0.5 percent higher.

Semiconductor equipment makers underperformed, with Tokyo Electron Ltd shedding 1.8 percent and Advantest Corp declining 1.7 percent. Silicon wafer maker Sumco Corp fell 3.5 percent.

Traders said the dollar’s weakening against the yen is souring the mood. The dollar fell 0.2 percent to trade at 111.39 yen.

Non-ferrous metal stocks also underperformed, with Mitsubishi Materials Corp shedding 1.3 percent and Sumitomo Metal Mining declining 1.1 percent.

Bucking the weakness, Nintendo Co soared 2.2 percent on hopes that Nintendo Switch games console would post strong sales during the U.S. holiday season.

The broader Topix shed 0.1 percent to 1,778.94. (Reporting by Ayai Tomisawa; Editing by Shri Navaratnam)

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