TOKYO, June 22 (Xinhua) -- Japan's benchmark Nikkei stock index closed lower Thursday, snapping a two-day winning streak, as chip-related issues were dragged down by their U.S. peers.
The 225-issue Nikkei Stock Average dropped 310.26 points, or 0.92 percent, from Wednesday to close the day at 33,264.88.
The broader Topix index, meanwhile, edged up 1.49 points, or 0.06 percent, to finish at 2,296.50.
Local brokers said that technology issues being sold held the blue chip-heavy Nikkei in negative territory for most of the day, with chip stocks following their U.S. peers lower overnight a particular drag.
Along with technology-related issues being sold, market analysts here said the market's downside was supported by growth shares continuing to find traction as they are still deemed to be undervalued.
"Rather than a broad-based sell-off, the market today seems to be divided by industries, with value stocks being bought and growth stocks such as tech stocks being sold," Tomoichiro Kubota, senior market analyst at Matsui Securities Co., was quoted as saying.
Among chip stock losing ground, semiconductor manufacturing equipment maker Tokyo Electron fell 4.6 percent, while chip-testing equipment maker Advantest tumbled 6.9 percent.
Following a spike in prices for oil and metals, trading companies duly advanced, with Mitsui & Co. gaining 0.9 percent.
Tourism-related issues were sought out following government data released a day earlier showing the numbers of inbound tourists continuing to recover post-COVID-19, with overseas visitors to Japan in May at 68.5 percent compared to the same month in 2019.
Of these, central Japan Railway added 0.6 percent, while department store operator Isetan Mitsukoshi Holdings rose 0.8 percent.
Nintendo gained traction, jumping 1.7 percent, following the game and console maker announcing a remake of its popular "Super Mario RPG" for its Switch console.
Panasonic also found favor, climbing 2.2 percent, after reports one of its units may supply batteries to Mazda Motor's EVs.
By the close of play, consumer credit, bank, and wholesale trade issues comprised those that gained the most.
Electric appliances, precision instruments, and machinery shares, meanwhile, led notable decliners.
The turnover on the Prime Market on the penultimate trading day of the week came to 4,094.05 billion yen (28.82 billion U.S. dollars). ■
