Japan's Nikkei ends lower amid tech share losses

Xinhua
19 Sep 2023, 17:18 GMT+10

TOKYO, Sept. 19 (Xinhua) -- Japan's benchmark Nikkei stock index lost its ground on Tuesday, tracking Wall Street declines in high-tech stocks last week.

The 225-issue Nikkei Stock Average lost 290.50 points, or 0.87 percent, from Friday to close the first trading day of the week at 33,242.59.

The broader Topix index, meanwhile, rebounded slightly by gaining 1.92 points, or 0.08 percent, to finish at 2,430.30.

Following the decline in high-tech stocks in the U.S. stock market prior to the weekend, selling dominated here in the Tokyo market, especially in the value-laden semiconductor sector, with Tokyo Electron and Advantest among the notable losers.

On the other hand, some large-cap stocks in automobile, banking, and shipping sectors which are considered undervalued, were bought on Tuesday.

On the top-tier Prime Market, decliners were led by precision instrument, service, and electric power and gas issues.

Issues that rose outpaced those that declined by 1,079 to 704, while 53 ended the day unchanged.

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