Japan's Nikkei share average fell sharply on Thursday to hit a seven-month low following a report that Toyota Motor plans to slash its global output by 40% next month due to chip shortages.
Japanese shares bounced back on Wednesday, led by gains in Fujifilm and other defensive stocks, with the Nikkei share average snapping its four-day losing streak, but concerns about the Delta variant kept investors on guard.
Japan's Nikkei index fell for a fourth session on Tuesday, as concerns about the fast-spreading Delta variant of the coronavirus overshadowed optimism around upbeat earnings.
Japanese shares fell on Monday as concerns of slow economic growth due to the highly contagious Delta variant of COVID-19 weighed on investor sentiment, while market heavyweights Toyota Motor and Sony Group dropped due to a stronger yen.