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Japan s Topix ends lower as COVID-19 fears outweigh gains in chip-related shares

By Reuters Staff 2 Min Read TOKYO, April 19 (Reuters) - Japan’s Topix changed course to close lower on Monday, while the Nikkei ended little changed, as concerns around a resurgence of COVID-19 outweighed gains from chip-related shares. The broader Topix slipped 0.22% to close at 1,956.56, while the Nikkei 225 Index trimmed gains to end 0.01% higher at 29,685.37. Japan and the United States agreed last week to cooperate on investment in semiconductor supply chains in response to a global shortage of chips, which is seen as positive for Japanese chemical and industrial companies, analysts said. But, risks related to the rapid spread of COVID-19 remain. The governor of Tokyo is considering another state of emergency in response to a steady increase in virus cases. And, analysts said, Japan’s slow vaccinations’ pace is also a negative factor.

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