Nikkei records its largest daily loss in about 6 weeks

Japan’s Nikkei index recorded its biggest daily decline in about six weeks on Tuesday, as rising US Treasury yields led to heavy selling in shares of Advantest and other chip-related companies.

The Nikkei fell 1.37 percent to close at 32,775.82 points on Tuesday, the largest daily decline since October 26. The index touched a three-week low at 32,726.68 points during the session.

Shares of chip-related companies constituted a majority among the biggest losers on the Nikkei index, with Advantest shares falling 6 percent, Tokyo Electron shares falling 3.8 percent, Screen Holdings shares falling 5 percent, and Renesas Electronics shares falling 5 percent.

The broader Topix index fell 0.82 percent to 2,343.16 points.

On the gains side, Sakura Internet cloud computing services shares jumped 13 percent.

Robotics manufacturer ACSL rose 6 percent.