Japan’s Nikkei index fell on Wednesday, as heavyweight chip-related stocks tracked losses in Micron Technology and its U.S. peers.

The Nikkei share average was down 0.83% at 27,767.07 by the midday break, while the broader Topix slipped 0.35% to 1,930.22.

The Nasdaq closed lower overnight after a dismal forecast from Micron Technology pulled chip makers and tech stocks down, with investors awaiting U.S. inflation data.

Chip-making equipment maker Tokyo Electron fell 2.59% and chip-testing equipment maker Advantest lost 3.8%.

Other heavyweights were also weak, with Uniqlo clothing shop owner Fast Retailing losing 2.75% and medical services platform M3 sliding 3.84%.
Companies that reported robust earnings gained.

Sumitomo Forestry jumped 8.58% after the home builder switched its annual net forecast to positive from a loss.

Rohto Pharmaceutical surged 16.6% after the drug maker raised its annual profit forecast.

“The market responded those with positive earnings,” said Maki Sawada, a strategist at Nomura Securities.

“But investors are cautions as they await U.S. inflation data that would gauge the Federal Reserve’s pace of rate hike, as well as ahead of a market close tomorrow in Japan.”

Japanese markets will be closed for a national holiday on Thursday.

Drug maker Daiichi Sankyo was up 1.17% and the top performer among the top 30 core Topix names, followed by cosmetic maker Kao Corp.

Reuters