Asian stocks finished mostly lower Thursday as losses in the chip sector pulled the major indexes into the red, following a negative report on Intel.
Chip-related shares were among the biggest decliners, taking their cue from Intel and Micron Technology's drop on Wall Street Wednesday. Japan's Kyocera, Advantest and South Korea's Hynix Semiconductor were all sharply lower.
Tokyo's Nikkei 225 Average shed 0.6% from the previous session's nine-week closing high, dragged down by high-tech shares such as Kyocera and Sony. Retail giant Seven & I Holdings dropped more than 3% on news it will likely miss its first-half profit target. But the market received some support as banks such as Mitsubishi UFJ Financial Group continued their rally on the notion the worst is over for U.S. subprime loan problems.