April 23, 2018 / 6:19 AM / a year ago

Nikkei fall as index-heavy stocks weaken; Apple suppliers underperform

TOKYO, April 23 (Reuters) - Japan’s Nikkei share average fell on Monday as index heavyweight stocks such as SoftBank and Terumo lost ground, offsetting gains in financials, which rallied after U.S. yields rose.

The Nikkei ended down 0.3 percent at 22,088.04 points.

Medical equipment maker Terumo Corp tumbled 3.9 percent and SoftBank shed 1.2 percent, collectively knocking nearly 30 points off the Nikkei.

Apple suppliers were sold after Morgan Stanley forecast weak demand for the tech giant’s latest iPhones, a day after Taiwan Semiconductor raised fears of softer smartphone sales.

Murata Manufacturing declined 1.3 percent and TDK Corp dropped 2.0 percent.

Financial stocks, which invest in foreign bonds, outperformed following a rise in U.S. yields, with insurers T&D Holdings up 4.2 percent, Dai-ichi Life surging 4.0 percent and Mitsubishi UFJ Financial Group 2.0 percent higher.

The broader Topix was flat at 1,750.79.

Reporting by Ayai Tomisawa; Editing by Kim Coghill

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