(Update) Nikkei Briefly Falls over 800 Points

   Tokyo, Oct. 16 (Jiji Press)--Japan's benchmark Nikkei 225 stock average briefly gave up over 800 points Wednesday, following declines in U.S. technology shares the previous day.
   The index of 225 selected issues listed on the Tokyo Stock Exchange's Prime section finished at 39,180.30, down 730.25 points, or 1.83 pct, from Tuesday. It ended lower for the first time in five market days.
   Issues related to semiconductors and electronic parts succumbed to heavy selling as U.S. tech shares were sold Tuesday after Dutch chipmaking equipment maker ASML Holding NV lowered its guidance for 2025.
   Profit-taking spread to other sectors as well, with more than 70 pct of the Prime section stocks ceding ground Wednesday.
   "As there are concerns that the Tokyo market is overheating (with the Nikkei's recent upward march), Wednesday's drop may be described as a correction that came at the right time," an official at a major securities firm said.

(2024/10/16-16:19)

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