Japan Nikkei falls 1% business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Japanese Market Significantly Lower
TOKYO (dpa-AFX) - The Japanese stock market is significantly lower after opening with steep losses on Wednesday, paring the gains of the previous session, with the benchmark Nikkei index falling below the 28,400 level, as traders remain spooked by the recent acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo. The cues overnight from Wall Street were mixed.
Tokyo reported 593 fresh coronavirus infections on Tuesday. The Japanese government is potentially keeping the quasi-state of emergency covering the Tokyo in place during the Summer Olympics.
The benchmark Nikkei 225 Index is losing 261.98 points or 0.91 percent to 28,381.23, after hitting a low of 28,161.75 earlier. Japanese stocks closed marginally higher on Tuesday.
Japanese shares end lower as chip stocks fall on COVID-19 worries reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
TOKYO, July 7 (Reuters) - Japanese shares fell on Wednesday, pressured by chip-related stocks, with worries over a resurgence of COVID-19 infections ahead of the Tokyo Olympics weighing on sentiment.
The Nikkei share average slipped 0.86% to 28,394.73 by 0202 GMT, and the broader Topix dropped 0.65% to 1,941.71.
The Nikkei was dragged down by chip-related shares, with Tokyo Electron slipping 0.98%, Advantest falling 1.34% and Shin-Etsu Chemical losing 3.67%.
“It is still hard to find positive news to lift Japanese shares as the pace for vaccine rollouts is taking a pause and the number of coronavirus infections in Tokyo is on the rise, and we have the Olympics amid the pandemic,” said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
PEAK ASSET: ARVO WRAP 07 JULY: ASX rallies 0.9% on tech, BNPL, health gains | Fatfish Group launches new retail brand as part of South East Asia BNPL rollout | Japanese shares end lower as chip stocks fall on COVID-19 worries mrtopstep.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mrtopstep.com Daily Mail and Mail on Sunday newspapers.