Nikkei falls as chip sector tumbles, firm GDP fails to impress [Reuters]
FUJIFILM HLDGS CORP ADR (FUJIY)
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Source: Reuters
Nikkei falls as chip sector tumbles, firm GDP fails to impress | Reuters Reuters Staff 3 Min Read * Nikkei has posted 0.1 pct weekly drop so far * Strong Q2 GDP gives little impact * Fujifilm soars on share buyback announcement By Ayai Tomisawa TOKYO, Aug 10 (Reuters) - Japan’s Nikkei fell on Friday morning as semiconductor-related shares tumbled after Morgan Stanley downgraded its view on the U.S. chip sector, which offset any boost from Japan’s better-than-expected second quarter economic growth. The Nikkei share average dropped 0.4 percent to 22,513.93. For the week, it has shed 0.1 percent so far. Chip equipment makers Tokyo Electron dropped 3.3 percent, Advantest Corp fell 3.5 percent and Screen Holdings shed 3.1 percent, while silicon-wafer maker Sumco Corp tumbled 5.1 percent. Morgan Stanley cut its outlook for the U.S. semiconductor industry to “cautious” from “in-line,” saying it could not see much upside to its estimates partly due to increasing trade tensions. Investors are
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