TOKYO (dpa-AFX) - The Japanese stock market is trading sharply higher on Friday, after a holiday, with the benchmark Nikkei 225 just below the 30,200 level, following the firmly positive cues overnight
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Japanese Market Modestly Lower
TOKYO (dpa-AFX) - The Japanese stock market is modestly lower on Thursday, extending the losses of the previous session, with the benchmark Nikkei 225 just above the 28,200 level, ignoring the positive cues overnight from Wall Street, as traders remain cautious amid the continued acceleration in the new wave of coronavirus cases, particularly in Olympic city Tokyo.
The Japanese government is planning to declare another COVID-19 state of emergency in Tokyo until August 22 to combat a recent surge in infections. The Tokyo metropolitan government reported 920 new infections on Wednesday, the highest figure since mid-May.
The benchmark Nikkei 225 Index is losing 158.91 points or 0.56 percent to 28,208.04, after hitting a low of 28,199.22 earlier. Japanese shares ended notably lower on Wednesday.
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Retailers also fell, with Isetan Mitsukoshi Holdings and Marui Group down 1.95% and 1.89%, respectively.
Showa Denko slipped 1.56% after a report said the materials maker planned to sell its underperforming lead-acid battery operations to Japanese private equity fund Advantage Partners.
Super market operator Aeon jumped 1.97% after saying it returned to profitability in the latest quarter with a 39 billion yen operating profit.
Daikin Industries jumped 4.3% after the Nikkei business daily reported the air conditioner maker had developed a refrigerant for electric vehicles that could extend their range by up to 50%. (Reporting by Junko Fujita; Editing by Subhranshu Sahu)
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Asian Markets Mostly Lower Amid Virus Concerns
CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Thursday, ignoring the positive cues overnight from Wall Street, as traders remained cautious amid mounting fears over the fresh wave of COVID-19 infections in several markets. More countries might look to impose stricter restrictions if the spread of the virus does not show signs of slowing, raising concerns about the pace of global economic rebound. Asian markets closed mixed on Wednesday.
The Australian stock market is slightly higher after giving up most of the strong early gains on Thursday, extending the gains of the previous session, with the benchmark S&P/ASX 200 staying above the 7,300 level, following the positive cues overnight from Wall Street, with technology and mining stocks providing the boost. However, the upside is capped amid concerns about the rising local coronavirus cases in New South Wales.