Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Nikkei falls to two-week low as Apple warning hurts technology stocks

Published 02/18/2020, 10:50 AM
Updated 02/18/2020, 10:56 AM
© Reuters. Nikkei falls to two-week low as Apple warning hurts technology stocks

TOKYO, Feb 18 (Reuters) - Japanese stocks fell to two-week
low on Tuesday, dragged down by tech companies after Apple Inc
AAPL.O warned it was unlikely to meet its sales target for the
March quarter as the coronavirus outbreak hurt production and
demand in China.
The Nikkei average .N225 fell 1.2% to 23,237.44 points by
the midday break, its lowest level since Feb. 4, and the broader
Topix .TOPX dropped 1.2% to a two-week low of 1,667.72.
All but one of the 33 sector sub-indexes on the Tokyo Stock
Exchange were trading lower, with precision machinery
.IPRCS.T , metal products .IMETL.T and electric machinery
.IELEC.T being the worst three performers.
Apple told investors late on Monday that its manufacturing
facilities in China that produce iPhone and other electronics
have begun to re-open, but are ramping up slower than expected.
Among its Japanese suppliers, electric parts maker Murata
Manufacturing Co Ltd 6981.T shed 3.4% and Taiyo Yuden Co Ltd
6976.T , which produces ceramic capacitors for iPhones, lost
4.1%.
Also hurting market sentiment was news that the Trump
administration was considering changing U.S. regulations to
allow it to block shipments of chips to Huawei Technologies
HWT.UL from companies such as Taiwan's TSMC 2330.TW , the
world's largest contract chipmaker. Tokyo-listed semiconductor equipment supplier Tokyo Electron
Ltd 8035.T tumbled 4.7%, while semiconductor test equipment
maker Advantest Corp 6857.T plummeted 6.5%.
Elsewhere, Asics Corp 7936.T , one of the sponsors of Tokyo
Marathon, slid 4.7% after organisers of the March 1 race said
the 38,000 general participants who signed up for the event will
not be allowed to compete, citing coronavirus fears.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.