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Nikkei drops after Fed rate comments; chip-related shares buck weakness


Wednesday, 26 June 2019 10:02 WIB

Nikkei 225Saham Jepang


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Japan’s Nikkei fell on Wednesday after the U.S. Federal Reserve chairman pushed back on pressure from President Donald Trump to cut interest rates, but chip-related stocks gained.

The Nikkei share average dropped 0.5% to 21,086.00 points by midmorning.

Investors are also awaiting the outcome of the G20 summit this week, where Trump will talk with Chinese President Xi Jinping on trade.

Chip equipment makers bucked the weakness and gained after Micron Technology Inc said on Tuesday it had resumed some microchip shipments to Huawei Technologies Co Ltd and still expects demand for its chips to recover later this year.

Tokyo Electron surged 2.1% and Advantest Corp jumped 3.9%.

Source: reuters


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