TOKYO: Japan’s Nikkei shed early gains to end lower on Thursday, pulled down by lacklustre performances in chip-related stocks, as Tokyo Electron tracked a slump in Arm Holdings after the British chip designer missed market expectations for annual revenue.: The Nikkei ended 0.34% lower to close at 38,073.98, after rising as much as 0.5% earlier in the session. “Declines in Arm shares drove a sell-off of Tokyo Electron and other chip-related stocks,” said Shuji Hosoi, senior strategist, Daiwa Securities. Arm Holdings gave a full-year revenue forecast that missed expectations, sending its Frankfurt-listed shares down 10% on Thursday. Shares of Tokyo Electron, a Japanese chip-making equipment maker, slipped nearly 3% to become the biggest drag on the Nikkei. Technology investor SoftBank Group, which owns around 90% stake in Arm Holdings, also dropped about 3%. Web Desk
“There were no other major market-moving cues today. Most stocks rose,” said Daiwa’s Hosoi.
