Japan's Nikkei snaps five-day winning run on Micron earnings caution
EWJ•Japan's Nikkei 225 fell 0.73% to 65,877.62, ending a five-day winning streak, while the Topix slipped 0.40% to 4,112.00. Investors sold stocks as Nasdaq futures weakened ahead of Micron's quarterly results due Wednesday.
1. Nikkei ends winning streak
The Nikkei 225 fell 0.73% on Monday after gaining about 4.5% over the previous five sessions. It had risen as much as 1% earlier to 67,034.74, its highest level since mid-August. The Topix declined 0.40%.
2. Investors watch Micron results
Investors sold stocks as Nasdaq futures weakened ahead of Micron Technology's quarterly results, due Wednesday, said GCI Asset Management senior portfolio manager Takamasa Ikeda. He also cited position rebalancing at the end of the first half of the year and said the Nikkei would mirror the US semiconductor index, which he expects to trade within a wide range over the next three to four months.
3. Decliners outnumber advancers
The Nikkei had 171 decliners, 53 advancers and one unchanged stock. Socionext fell 5.15%, Ibiden lost 4.43% and Kioxia Holdings dropped 4.37%; Ebara rose 2.82%, Mizuho Financial Group gained 2.01% and Dai-Ichi Life Holdings added 1.91%.
