Tokyo stocks mixed in morning on weak chip shares, yen's fall
The 225-issue Nikkei Stock Average fell 155.16 points, or 0.38 percent, from Thursday to 40,914.66. The broader Topix index was up 12.32 points, or 0.42 percent, at 2,955.39.
The U.S. dollar remained firm in the upper 150 yen range in Tokyo as the Japanese currency continued to face selling pressure amid receding expectations of an early interest rate hike by the Bank of Japan, dealers said.
At noon, the dollar fetched 150.76-77 yen compared with 150.73-83 yen in New York and 149.38-40 yen in Tokyo at 5 p.m. Thursday.
The euro was quoted at $1.1410-1413 and 171.99-172.10 yen against $1.1408-1418 and 172.06-16 yen in New York and $1.1448-1450 and 171.02-06 yen in Tokyo late Thursday afternoon.
The Nikkei index was weighed down by selling of heavyweight chip shares after major semiconductor manufacturing equipment maker Tokyo Electron Ltd. on Thursday revised down its earnings forecast for the current fiscal year, brokers said.
Tokyo Electron dived 17 percent to 22,685 yen at the end of the morning session.
Meanwhile, the yen's depreciation helped lift export-oriented auto issues as a weaker yen increases exporters' overseas profits when repatriated.
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