Nikkei dips on chip-related stock losses

Japan’s Nikkei fell for the third consecutive session on Thursday, as losses in blue chips-related blue chips outweighed a jump in airline and rail stocks.

The Nikkei fell 0.27 percent to close at 26,604.84 points, giving up the gains recorded earlier in the session, supported by a strong closing of Wall Street.

Chip-related stocks fell, including Tokyo Electron, which fell 2.39 percent, and Advantest, which fell 3.63 percent.

Robot maker Fanuc also fell 2.18 percent.

The broader Topix index rose 0.05 percent to 1,877.58 points, supported by a 1.88 percent rise in Toyota Motor shares.

Shares of sectors likely to benefit from the economic recovery rose, and the airline sector index rose 2.05 percent and led gains among the sub-sectors on the Tokyo Stock Exchange.

Railway operator Keio jumped 4.8 percent and East Japan Railway Co. rose 2.48 percent.

The real estate sector also rose 0.92 percent, and Mitsui Fudosan Real Estate Development Co. jumped 2.16 percent.