Japan Nikkei extends losses on growing Covid-19 infections worries

Japan stock market finished lower for fourth consecutive session on Monday, 19 July 2021, as risk aversion selloff continued on tracking weak global cues, anxiety over stubborn inflation, and concerns over rapid resurgence in COVID-19 infections linked to the highly contagious Delta coronavirus variant ahead of the Tokyo Olympics

At closing bell, the 225-issue Nikkei Stock Average declined 350.34 points, or 1.25%, to 27,652.74. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 25.06 points, or 1.3%, to 1,907.13.

Trading volume turnover in the 1st section increased to 951 million shares from 935 million shares in previous session. Trading value turnover decreased to 2,066.62 billion yen from 2,155.01 billion yen in previous session.

 

Total 32 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with bottom performing were Air Transportation (down 2.8%), Iron & Steel (down 2.6%), Electric Appliances (down 2.2%), Nonferrous Metals (down 2.2%), Glass & Ceramics Products (down 2.2%), Metal Products (down 2%), Mining (down 1.9%), and Oil & Coal Products (down 1.6%).

Chip-related issues dropped following losses among U.S. counterparts Friday. Advantest decreased 1.4%, Taiyo Yuden fell 3.6%, and Tokyo Electron ended down 2.1%.

Air transportation issues experienced a huge decline due to the continuous rise in COVID-19 infections, with Japan Airlines dropping 2.9% and ANA Holdings slipping 2.7%.

CURRENCY NEWS: The Japanese yen traded at 109.86 per dollar, stronger than levels above 110.4 seen against the greenback last week.

Powered by Capital Market - Live News