Japan's Nikkei 225 drops 3rd day as Topix rises
Business
Japan's Nikkei 225 index dropped for the third straight day on Monday, was down 0.43% in morning trade and nearing its lowest point since late July.
The fall was mostly due to weaker chip-related stocks, but interestingly, the broader Topix index actually rose a bit, thanks to a boost from energy companies amid higher oil prices.
Inpex, JGC Holdings jump nearly 5%
Energy and trading-related stocks like Inpex and JGC Holdings jumped nearly 5%.
Even though US markets also slipped recently, energy shares held up better there too.
Monex Securities senior analyst Satoshi Saito noted that the Nikkei might be undervalued right now, suggesting a short-term bounce could be on the cards, though global uncertainty is still making investors cautious.