Press "Enter" to skip to content
Image by Kakidai

Tokyo Stocks Edge Down After Long Weekend

Shares

Key Points

  • Tokyo stocks closed marginally lower Wednesday after a long weekend and as worries grew of fresh spikes in coronavirus cases in Europe and the United States.
  • The benchmark Nikkei 225 index inched down 0.06 percent, or 13.81 points, to end at 23,346.49, while the broader Topix index dipped 0.13 percent, or 2.17 points, to 1,644.25. 
  • Many nations in Europe have eased restrictions after largely overcoming initial outbreaks, but the resurgence of the virus has forced them to tighten curbs again.
  • Visit The Financial Today’s homepage for more stories.

Tokyo, Japan — Tokyo stocks closed marginally lower Wednesday after a long weekend and as worries grew of fresh spikes in coronavirus cases in Europe and the United States.

The benchmark Nikkei 225 index inched down 0.06 percent, or 13.81 points, to end at 23,346.49, while the broader Topix index dipped 0.13 percent, or 2.17 points, to 1,644.25. 

“The market reacted negatively to the spread of new coronavirus infections in Europe and the US and uncertainty over additional US economic stimulus,” Okasan Online Securities said in a note.

New COVID-19 cases worldwide soared last week to a new seven-day high of almost two million, according to the latest WHO statistics.

Many nations in Europe have eased restrictions after largely overcoming initial outbreaks, but the resurgence of the virus has forced them to tighten curbs again.

The United States is still the worst-hit country with more than 200,000 virus deaths.

The dollar fetched 105.08 yen in Asian trade, against 104.92 yen in New York late Tuesday and 104.83 yen during the last session in Tokyo late Friday.

In Tokyo trading, SoftBank Group dropped 2.59 percent to 6,375 yen, while Sony fell 1.42 percent to 8,204 yen.

Fujifilm Holdings jumped 4.88 percent to 5,283 yen as the company said it will apply for its anti-influenza drug Avigan to be approved for treating coronavirus patients after trials showed it can shorten recovery time.

Honda lost 2.81 percent to 2,539.5 yen, while Nissan dropped 3.15 percent to 372 yen. Toyota advanced 0.61 percent to 7,081 yen.

Be First to Comment

Leave a Reply