TOKYO, Aug 13 (Reuters) - Japan’s Nikkei share average ended weaker on Friday, dragged down by declines in chip-related stocks that tracked U.S. peers lower but a surge in heavyweight Recruit Holdings limited losses. The Nikkei share average edged down 0.14% to close at 27,977.15, while the broader Topix gained 0.15% to 1,956.39. For the week, the Nikkei, however, posted a second straight gain. “The U.S. markets were not necessarily strong overnight as they fell into negative territory during the session. And weakness in U.S. chip shares weighed on investor sentiment today,” said Kentaro Hayashi, a senior strategist at Daiwa Securities. “But defensive shares are solid, particularly Recruit Holdings in the services sector.” Recruit Holdings, an index heavyweight, surged 10.01% after the staffing and publishing firm’s revised annual profit forecast beat analysts’ consensus. JFE Holdings jumped 9.32% after the steelmaker nearly doubled its annual net profit forecast. However, chip-making equipment manufacturers Tokyo Electron and Advantest lost 1.85% and 4.73%, respectively, as the Philadelphia semiconductor index fell for a sixth straight session on Thursday. Refiners fell the most among the Tokyo Stock Exchange’s 33 industry subindexes as oil prices fell. Air and ground transport sectors also dropped as the pandemic in Japan spreads more. The country’s top health adviser requested stricter emergency measures for about two weeks to tackle a spike in COVID-19 cases in Tokyo and other areas. A few days after the end of the Tokyo Olympics, the capital reported 4,989 new daily cases on Thursday, down slightly from a record 5,042 last week. Toshiba fell 4.37% despite returning profitable as the scandal-hit conglomerate said it has been working to select candidates for a permanent CEO and board chairman. (Reporting by Junko Fujita in Tokyo; Editing by Ramakrishnan M. and Rashmi Aich) Our Standards: The Thomson Reuters Trust Principles.
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