Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolio

Nikkei holds near 10-1/2-mth high; chip-related stocks weak

Published 10/23/2019, 11:13 AM
Updated 10/23/2019, 11:16 AM
Nikkei holds near 10-1/2-mth high; chip-related stocks weak
JP225
-
BIIB
-
TXN
-
TOPX
-
4523
-
8035
-
9984
-
6963
-

TOKYO, Oct 23 (Reuters) - Japan's Nikkei share average was
little changed on Wednesday, running out of steam after climbing
to a 10-1/2-month high, with weak chip-related stocks preventing
further gains after disappointing results from Texas
Instruments.
The benchmark Nikkei average .N225 eased marginally to
22,540.56 by the midday break, still near Thursday's high which
marked the best level since Dec. 3.
The broader Topix .TOPX added 0.1% to 1,630.15.
Tokyo-listed semiconductor-related shares were hit hard,
with Rohm 6963.T and Tokyo Electron 8035.T sliding 4.9% and
3.6%, respectively, as Texas Instruments TXN.O slumped nearly
10% in after-hour trading overnight.
The leading American chip designer on Tuesday forecast
current-quarter revenue well below estimates, in a fresh sign
that the global microchip industry is being squeezed by a
downturn in demand as well as a prolonged U.S.-China trade
dispute. The Nikkei heavyweight Softbank Group 9984.T shed 2.6% as
the tech conglomerate agreed to spend $10 billion to take over
U.S. office-space sharing startup WeWork on Tuesday, doubling
down on an ill-fated investment and paying off its co-founder
Adam Neumann to relinquish control. Eisai 4523.T was quoted up 18.1% at its daily-limit high,
still untraded with a glut of buy orders for the Japanese
drugmaker, after its partner Biogen BIIB.O revived plans on
Tuesday to seek U.S. approval for Alzheimer's treatment
aducanumab, which surprised investors and sent the U.S. pharma
firm's share up 27% overnight.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.