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Nikkei dips as tech shares succumb to U.S. sell-off
November 30, 2017 / 2:09 AM / 14 days ago

Nikkei dips as tech shares succumb to U.S. sell-off

TOKYO, Nov 30 (Reuters) - Japan’s Nikkei share average edged lower on Thursday in choppy trade as tech shares fell sharply following a drop in their U.S. counterparts overnight, offsetting gains in banking shares.

The Nikkei shed 0.2 percent to 22,557.58 points in midmorning trade after flirting with positive territory earlier.

Semiconductor equipment manufacturer Tokyo Electron Ltd slipped 2.3 percent, electronics products maker Panasonic Corp shed 1.8 percent and Hitachi Ltd declined 1.6 percent.

Overnight, the Nasdaq posted its biggest one-day drop in more than three months on Wednesday as investors fled high-flying technology stocks and shifted to banks.

Banking shares gained, with Mitsubishi UFJ Financial Group rising 2.4 percent and Mizuho Financial Group adding 1.6 percent.

The broader Topix shed 0.1 percent to 1,783.79. (Reporting by Ayai Tomisawa; Editing by Kim Coghill)

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