Tokyo, November 02 (QNA) - Japan’s Nikkei share average traded lower on Monday as memory chip maker Kioxia tanked, while gains in Tokyo Electron and other firms with strong outlooks limited the losses.

The Nikkei fell 0.33% to 63,081.86, while the broader Topix lost 0.88% to 3,930.28.

Kioxia shares slipped 15.78% to become the biggest drag on the Nikkei after the company’s outlook for the quarter through December disappointed investors.

Conversely, Tokyo Electron rose 5.16% and Panasonic Holdings advanced 5.41%.

Shares in major banks traded weaker, with Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group falling by approximately 2%.

Of more than 1,500 stocks trading on the Tokyo Stock Exchange’s prime market, 32% rose, 65% fell and 2% traded flat. (QNA)