TOKYO, May 26 (Reuters) - Japan's Nikkei share average fell
for a third straight session on Thursday, as losses in
heavyweight chip-related stocks overshadowed a jump in airline
and railway companies.
The Nikkei ended down 0.27% to 26,604.84, reversing
early gains that were sparked by a firmer finish on Wall Street.
U.S stocks indexes were buoyed by minutes from the Federal
Reserve's latest monetary policy meeting showing policymakers
unanimously felt the U.S. economy was very strong.
"Losses in chip-related stocks weighed on the market since
this morning, and as a result gains in airlines and other
reopening stocks failed to lift the market," said Shigetoshi
Kamada, general manager at the research department at Tachibana
"With the absence of domestic market-moving catalysts,
investors sought cues from overseas. Even as they digested the
Fed minutes, investors were not certain if the U.S. economy will
improve going forward."
Chip-related Tokyo Electron and Advantest
weighed the most on the Nikkei, falling 2.39% and 3.63%
respectively. Robot maker Fanuc lost 2.18%.
The broader Topix inched up 0.05% to 1,877.58,
helped by a 1.88% gain in Toyota Motor.
Sectors that are likely to benefit from an economic recovery
rose, with airlines jumping 2.05% to lead gains among
the Tokyo Stock Exchange's 33 industry sub-indexes.
Railway operators Keio climbed 4.8% and East Japan
Railway rose 2.48%, helping the sector
The real estate sector rose 0.92%, with developer
Mitsui Fudosan jumping 2.16%.
There were 115 advancers on the Nikkei index against 108
The volume of shares traded on the Tokyo Stock Exchange's
main board was 1.12 billion, compared to the average 1.26
billion in the past 30 days.
(Reporting by Junko Fujita; Editing by Subhranshu Sahu)