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Asian Markets Mixed Amid Cautious Trades
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Japanese shares extend recovery as investors shrug off GDP data
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By Reuters Staff
(Updates with index close)
TOKYO, April 14 (Reuters) - Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID-19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged on banking and insurer stocks.
The Nikkei share average slipped 0.44% to close at 29,620.99, while the broader Topix ended 0.33% lower at 1,952.18.
“The expectations for the reopening of the economy shrank because rollouts of vaccines in Japan is much slower than other countries, while the number of new COVID-19 cases is on the rise,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
Japanese shares end lower as virus resurgence hits risk appetite
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Synopsis
The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80.
AP
Mega banks slipped, with Mitsubishi UFJ Financial Group losing 0.46 per cent and Sumitomo Mitsui Financial Group dipping 0.82.
TOKYO: Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID-19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged banking and insurer stocks. The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80. The expectations for the reopening of the economy shrank because rollouts of vaccines in Japan is much slower than other countries, while the number of new COVID-19 cases is on the rise, said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.