Nikkei hits 3-month low on U.S. tightening fears, weak chip demand

The Nikkei index fell to around a three-month low Friday, hit by concerns over prolonged monetary tightening in the United States and weakening demand in the semiconductor industry. The 225-issue Nikkei Stock Average ended down 272.62 points, or 1.03 percent, from Thursday at 26,235.25, its lowest close since Oct. 3. The broader Topix index finished 10.23 points, or 0.54 percent, lower at 1,897.94. Nonferrous metal, electric appliance, and marine transportation issues drove the decline on the top-tier Prime Market.