Japanese shares drop as economic slump prompts investor caution
Reuters
5 hrs ago
TOKYO, May 19 (Reuters) - Japanese shares fell on Wednesday, tracking cues from Wall Street's weak finish overnight, while domestic cyclicals lost ground as concerns over the country's pandemic-induced economic slump weighed on investor sentiment.
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Nikkei share average was down 1.34% at 28,026.36 by 0207 GMT, while the broader Topix fell 0.67% to 1,895.19.
"Japanese market can't be free from the influence of overseas markets. At the same time, Japan has its own negative factor - the government's emergency measures to curb COVID-19 infections," Yoshihiro Takeshige, general manager at investment management department, Asahi Life Asset Management, said.