At closing bell, the 225-issue Nikkei Stock Average fell 256.08 points, or 0.9%, to 28,222.48. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 8.86 points, or 0.44%, to 1,986.82. Japanese financial markets were closed Monday for a national holiday.
Total 18 of 33 Topix industry groups ended down, with bottom performing issues were Electric Appliances (down 2.3%), Chemicals (down 1.7%), Metal Products (down.3%), and Precision Instruments (down 1.3%) issues, while top performing issues included Insurance (up 2.7%), Banks (up 2.6%), Securities & Commodities Futures (up 2.2%), Air Transportation (up 1.7%),and Nonferrous Metals (up 1.5%) issues.
Investors risk sentiment dampened amid economy growth prospect concerns after Japan's daily confirmed COVID-19 cases on Saturday logged more than 8,400, the highest level in four months, with community spread of the highly transmissible Omicron variant of the COVID-19 reported in large cities including Tokyo and Osaka. Some prefectures were placed under a quasi-state of emergency on Sunday, which allowed prefectural authorities to step up their anti-coronavirus measures and to request that dining establishments shorten their business hours and stop serving alcohol.
ECONOMIC NEWS: Japan Leading Economic Indicators Rise In November- Japan's index of leading economic indicators, a gauge of the economy a few months ahead, compiled from data such as job offers and consumer sentiment, rose 1.5 points to 103.0 after a final 101.5 a month earlier. This marked the highest level since July, amid a surge in vaccinations and easing supply-chain disruptions. The coincident indicator index rose in November for a second month, the government said on Tuesday, as nationwide COVID-19 infections stayed low through the month. The index, which consists of a variety of data such as factory output, employment and retail sales, gained a preliminary 3.8 points over the previous month to stand at 93.6 in November, the cabinet office said.
CURRENCY NEWS: The Japanese yen stood at 115.25-26 per dollar, compared with 115.89-89 on Friday.
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