Japan's Nikkei slips from 2-month high on selloff in chip stocks


Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

       TOKYO, Nov 25 (Reuters) - Japan's Nikkei edged lower on
Friday, as investors sold heavyweight chip-related stocks after
the share average hit a more-than two month high in the last
session, although hopes for slower interest rate hikes globally
capped declines.
    The Nikkei  .N225  lost 0.34% to 28,286.94 by the midday
break but it was set to rise 1.39% for the week. The broader
Topix  .TOPX  fell 0.13% to 2,016.23 and on course to post a
2.49% weekly gain.
    "Investors sold shares for profit-taking today. That was
seen in chip-related stocks, which were strong in the past few
sessions," said Shuji Hosoi, senior strategist at Daiwa
    "Overall the market was supported by hopes for slower hikes
of the ECB, which sent the Germany's 10-year bond yields lower."
    Investors saw some dovish hints in the minutes from the
European Central Bank's most recent policy meeting, which was
published Thursday, even as they showed policymakers' fears that
inflation might be becoming entrenched.
    The Nikkei's jump in the previous session was underpinned by
hopes for a slower pace of interest rate hikes by the U.S.
Federal Reserve. 
    In Japan, chip-related Tokyo Electron  8035.T  fell 0.32%
after jumping 3.68% in the week, while Advantest  6857.T 
slipped 0.32% after posting a 4.23% weekly gain. 
    Dentsu Group  4324.T  lost 3.95% after a report that Tokyo
prosecutors searched the advertising agency and other firms in
connection with possible bid-rigging for Tokyo Olympics test
    Hub Co  3030.T , which runs British style pubs, jumped
6.91%, extending its gain after Japan made a stunning 2-1 upset
over four-times champions Germany in their World Cup opener on
    The utility sector  .IEPNG.T  rose 1.39% to become the top
gainer among the 33 industry sub-indexes on the Tokyo bourse. 
    Tokyo Electric Power  9501.T  jumped 4.2% to become the
Nikkei's biggest gainer, followed by heavy machinery raker
Kawasaki Heavy Industries  7012.T , with a 4.05% jump.  
 (Reporting by Junko Fujita; Editing by Rashmi Aich)

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.