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Nikkei tumbles over 2 pct to 1-1/2-month low following Wall Street rout

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Nikkei tumbles over 2 pct to 1-1/2-month low following Wall Street rout

TOKYO, Feb 5 (Reuters) – Japan’s Nikkei share average tumbled more than 2 percent to a 1-1/2-month low on Monday, pressured by sharp losses in U.S. markets triggered by rising bond yields and prospects for stronger inflation.

The Nikkei was down 2.5 percent at 22,697.53 points by midmorning, its lowest level since mid December.

The broader Topix dropped 2.1 percent to 1,824.51, with all of its 33 subsectors in negative territory.

Chip-related shares tumbled, with Advantest Corp shedding 4.5 percent and Tokyo Electron sliding 2.5 percent.

Real estate and banking stocks also lost ground, with Mitsui Fudosan dropping 3.0 percent and Sumitomo Realty & Development shedding 2.6 percent. Mitsubishi UFJ Financial Group fell 3.5 percent and Sumitomo Mitsui Financial Group declined 2.6 percent.

Sony Corp bucked the weakness, rising 2.6 percent after it reported a nearly four-fold jump in third-quarter operating profit on growing demand for its image sensors and raised its full-year earnings outlook. (Editing by Kim Coghill)

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