Nikkei gives up early gains as chip-related shares retreat after ASML earnings
EWJ•Japan's Nikkei fell 0.05% to 67,744.29 on Wednesday after giving up an early gain of as much as 0.93%, as chip-related shares retreated following ASML's earnings. The broader Topix slipped 0.34% to 4,096.78.
1. Nikkei reverses gains
The Nikkei ended 0.05% lower at 67,744.29 after rising as much as 0.93% earlier in the session. The Topix fell 0.34% to 4,096.78. Kazuaki Shimada, chief strategist at IwaiCosmo Securities, said the Nikkei reversed gains as markets saw ASML shares falling on proprietary trading systems after earnings.
2. Chip shares mixed
Tokyo Electron fell 2.73%, while Advantest ended 0.05% lower. Fujikura rose 2.56% and Taiyo Yuden gained 3.59%, making it the Nikkei's top percentage gainer. Banks weighed most on the Topix: Mitsubishi UFJ Financial Group fell 1.94%, Mizuho Financial Group slipped 2.87% and Sumitomo Mitsui Financial Group lost 1.85%.
