This file photo shows the Tokyo Stock Exchange. (Mainichi)
TOKYO (Kyodo) — Tokyo stocks ended mixed Friday, with the Nikkei index pressured by heavyweight semiconductor issues, while the yen’s depreciation prompted buying of export-linked shares.
The 225-issue Nikkei Stock Average fell 270.22 points, or 0.66 percent, from Thursday at 40,799.60. The broader Topix index finished 5.58 points, or 0.19 percent, higher at 2,948.65.
On the top-tier Prime Market, decliners were led by precision instrument and electric appliance issues, while electric power and gas and land transportation shares were main gainers.
The U.S. dollar remained firm mostly in the upper 150 yen range in Tokyo amid receding expectations of an early interest rate hike by the Bank of Japan, dealers said.
On the stock market, the benchmark Nikkei was dragged down by the selling of heavyweight semiconductor-related shares after major chip manufacturing equipment maker Tokyo Electron Ltd. on Thursday revised down its earnings forecast for the current fiscal year.
Tokyo Electron sank 18.0 percent to 22,405 yen after the company said it expects its net profit for the year ending next March will be 22 percent lower than earlier projected, citing adjustments in capital investment plans by semiconductor manufacturers.
“As chip shares have risen on hopes for growth in the artificial intelligence field, including data centers, the market reacted negatively to the downward revision,” said Maki Sawada, a strategist at the Investment Content Department of Nomura Securities Co.
Meanwhile, the market was supported by the buying of export-related auto shares on the weaker yen, which increases overseas profits of exporters when repatriated.
AloJapan.com