Nikkei share average fall; Toshiba soars

Dhaka,  Thu,  24 August 2017
Published : 12 Jun 2017, 14:17:09
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Nikkei share average fall; Toshiba soars

Nikkei share average fall; Toshiba soars
Japan's Nikkei share average fell on Monday, dragged down by declines in technology shares after their US counterparts were sold off sharply on Friday.

The Nikkei dropped 0.8 per cent to 19,848.60 in midmorning trade.

Semiconductor manufacturing equipment makers and Apple suppliers led the declines, with Tokyo Electron tumbling 3.5 per cent, Advantest Corp dropping 3.4 per cent, TDK Corp shedding 3.0 per cent and Taiyo Yuden declining 3.1 per cent.

On Friday, Apple Inc shares fell 3.9 per cent in their biggest daily percentage decline since April 2016.

Financial stocks gained, helping the broader Topix outperform. It rose 0.1 per cent to 1,593.60.

Mitsubishi UFJ Financial Group gained 1.0 per cent, Mizuho Financial Group added 1.4 per cent and insurer T&D Holdings soared 4.6 per cent.

Meanwhile, Toshiba Corp surged 7.5 per cent after a person familiar with the matter said that Western Digital Corp plans to raise its offer for Toshiba's prized semiconductor unit to $18 billion or more.

The JPX-Nikkei Index 400 gained 0.1 per cent to 14,189.50, according to Reuters.
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