TOKYO, Feb 18 (Reuters) - Japanese shares fell on Tuesday, with the broad Topix index finishing at its weakest in nearly four months, as investors sold tech firms after Apple Inc AAPL.O warned it will likely miss quarterly revenue targets due to the coronavirus outbreak.
All but one of the 33 sector sub-indexes on the Tokyo Stock Exchange were trading lower, with electric machinery .IELEC.T , metal products .IMETL.T and machinery .IMCHN.T , becoming 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. 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 5.7%, while battery maker TDK Corp 6762.T sank 4.2%.
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. semiconductor equipment supplier Tokyo Electron Ltd 8035.T tumbled 4.8%, while semiconductor test equipment maker Advantest Corp 6857.T plummeted 5.8%.
Benchmark Nikkei's heavyweight SoftBank Group (SBG) 9984.T declined 4.9% after Indian startup Oyo Hotels and Homes, one of the SBG's high-profile bets, said losses widened more than six-fold in the year ended March 2019. Motor Co 7201.T fell 1.6% as its new chief executive officer said he would accept being fired if he fails to turn around the troubled automaker at an extraordinary shareholders' meeting on Tuesday. Asics Corp 7936.T , one of the sponsors of Tokyo Marathon, slid 3.1% 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. China, the number of new virus cases dropped to 1,886 on Monday from 2,048 the day before. Outside of China, there are 827 cases in 26 countries and regions and five deaths, according to a Reuters count based on official statements. markets also lost ground, with the index of startup-heavy Mothers market .MTHR shedding 2.4%, its biggest one-day decline in nearly three weeks.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.