REFILE-Nikkei snaps 6-day winning streak as Apple-related shares tumble

miércoles 22 de julio de 2015 02:35 GYT

(Corrects day in first paragraph)
    * Apple component makers fall after Apple's weak guidance
    * Chip-making machine makers underperform after weak BB

    By Ayai Tomisawa
    TOKYO, July 22 (Reuters) - Japanese shares snapped a six-day
winning streak on Wednesday, pressured by declines on Wall
Street with Apple Inc -related stocks stumbling after
the tech giant's revenue forecast missed market expectations. 
    The Nikkei share average dropped 1.0 percent to
20,627.93 in midmorning trade after ending at a near four-week
closing high on the previous day. In the past six days, the
Nikkei had gained 5.0 percent.
    U.S. stocks fell as results from IBM and United
Technologies dampened early optimism over the earnings
season. After the bell, Apple forecast fourth-quarter revenue
below estimates, sending its shares down 8 percent in
after-hours trading, despite reporting strong iPhone sales.
    A fall in Apple shares soured sentiment in Apple-related
stocks in Japan, with Murata Manufacturing Co tumbling
6.4 percent, Foster Electric Co falling 2.5 percent,
and TDK Corp dropping 3.0 percent.
    "Since the market had been rising, such bad news can take a
toll," said Hikaru Sato, a senior technical analyst at Daiwa
Securities. "But the impact from Apple's weak forecast should
not drag on."
    Chip-related stocks were sold off after semiconductor market
research company SEMI said that the book-to-bill ratio for June
was 0.98, meaning $98 worth of orders were received for every
$100 of product billed for the month.
    Advantest Corp dropped 2.5 percent and Tokyo
Electron Ltd shed 1.6 percent.
    Bucking the weakness, Pigeon Corp rose 1.6 percent
after Daiwa Securities raised its rating to 'outperform' from
'neutral', citing ongoing strength in baby-bottle sales in its
main overseas market China.
    The broader Topix dropped 1.0 percent to 1,657.99,
and the JPX-Nikkei Index 400 declined 1.0 percent to

 (Editing by Shri Navaratnam)