At closing bell, the 225-issue Nikkei Stock Average declined marginal 8.75 points, or 0.03%, to 30,240.06. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 3.01 points, or 0.14%, to 2,087.74. Trading volume turnover on the main section stood at 1.29 billion shares worth 3.26 trillion yen.
Total 18 of 33 industry groups advanced on the Topix, with top gaining issues were Mining (up 4.3%), Air Transportation (up 3.8%), Land Transportation (up 1.7%), Banks (up 1.6%), Oil & Coal Products (up 1.4%), and Transportation Equipment (up 1.1%), while bottom performing issues included Marine Transportation (down 6.5%), Machinery (down 1.7%), and Warehousing & Harbor Transportation Services (down 1.6%).
Prime Minister Yoshihide Suga is expected to announce that a virus state of emergency will end later this week as the number of Covid-19 cases drop. The number of confirmed cases is now at around 3,000 a day, down from its peak of approximately 25,000 seen in August.
Tokyo investors were also in a wait-and-see mode ahead of various domestic events. Investors are hopeful that the new leader of the ruling Liberal Democratic Party, who will replace Suga after a vote on Wednesday, will inject fresh pandemic stimulus to kickstart the economy.
CURRENCY NEWS: The U.S. dollar depreciated in the upper 110 yen range, as risk appetite increased amid receding fears over the potential default of Chinese real estate conglomerate Evergrande Group. The dollar stood at 110.77-77 yen, up from 110.46-47 yen on Friday. The euro was at 129.54-54 yen, down from 129.68-68 yen.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
