INSUBCONTINENT EXCLUSIVE:
TOKYO: 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 US yields rose.
The Nikkei ended down 0.3 per cent at 22,088.04 points.
Medical equipment maker Terumo
Corp tumbled 3.9 per cent and SoftBank shed 1.2 per cent, 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 per cent and TDK Corp dropped 2.0 per cent.
Financial stocks, which invest in foreign
bonds, outperformed following a rise in US yields, with insurers TD Holdings up 4.2 per cent, Dai-ichi Life surging 4.0 per cent and
Mitsubishi UFJ Financial Group 2.0 per cent higher.
The broader Topix was flat at 1,750.79.
