TOKYO: Japanese shares suffered their biggest drop in six months on Thursday, tracking Wall Street, weighed by technology companies which have benefited from a recent rally in stocks.
The Nikkei share average fell 1.53% to 28,197.42, the biggest decline since July 31, while the broader Topix slid 1.14% to 1,838.85.
Topix’s electric appliances index has jumped 6.34% this year, while the Topix has gained 1.89%.
Local chip-related shares fell, with Renesas Electronics losing 5.85%, Advantest falling 4.3% and Sumco declining 4.47%.
Fanuc fell 1.01% even after the factory automation machinery maker raised its operating profit forecast for a second time to 105.8 billion yen ($1.01 billion), a 19.8% increase from a year earlier.
Nikkei’s heavy weights also declined, with SoftBank Group sinking 3.6%, Tokyo Electron dropping 4.62% and Fast Retailing falling 0.24%.
Shares in transport and retailers, which have been sold heavily during the pandemic, advanced. ANA Holdings, Japan Airlines and East Japan Railway rose between 2.71% and 4.65%.
Automakers Mitsubishi Motors rose 6.75% and Isuzu Motors gained 4.73%.
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