The Financial Express

Japanese shares edge lower in choppy trade

| Updated: December 01, 2017 00:38:30

Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Reuters) File Photo (Reuters)

Japan’s Nikkei share average edged lower on Thursday in choppy trade as tech shares fell sharply following a drop in their US counterparts overnight, offsetting gains in banking shares.

The Nikkei shed 0.2 per cent to 22,557.58 points in midmorning trade after flirting with positive territory earlier, reports Reuters.

Semiconductor equipment manufacturer Tokyo Electron Ltd slipped 2.3 per cent, electronics products maker Panasonic Corp shed 1.8 per cent and Hitachi Ltd declined 1.6 per cent.

Overnight, the Nasdaq posted its biggest one-day drop in more than three months on Wednesday as investors fled high-flying technology stocks and shifted to banks.

Banking shares gained, with Mitsubishi UFJ Financial Group rising 2.4 per cent and Mizuho Financial Group adding 1.6 per cent.

The broader Topix shed 0.1 per cent to 1,783.79.

Share if you like