Japan’s Nikkei falls as chip stocks lose momentum

Japan’s Nikkei fell on Thursday to halt a two-day winning streak, with investors reaping profits after the latest jump in semiconductor stocks.

Advante and Tokyo Electron chipmaker shares plunged 6.86 percent and 4.57 percent, respectively, after shares of corresponding companies fell in the United States, squandering recent gains driven by the euphoria of artificial intelligence.

Mitsui & Co’s trading stock rose 0.94 percent after rising oil and metal prices. Mitsubishi Yu Group’s stock jumped. F.D. J Fiscal 3.79 percent supported by Treasury gains that boosted the value of U.S. bond portfolios.

The Nikkei index fell 0.92 percent to close at 33,264.88 points. The broader Topix index closed 0.06 points higher at 2296.50, up as much as 0.76 per cent earlier in the session.

The Nikkei rose 27 percent this year, touching a 33-year high earlier this week. Foreign investors have been buying Japanese shares for the 11th consecutive week until June 17.