Japan Stocks fall on COVID-19 concerns

Japan share market finished session steep lower on Friday, 10 July 2020, as investors disheartened by the yen's firmness against the U.S. dollar and concerns that the path to economic recovery could be hindered after spike in fresh COVID-19 cases at home and abroad. At closing bell, the 225-issue Nikkei Stock Average declined 238.48 points, or 1.06%, to 22,290.81. The broader Topix index of all First Section issues on the Tokyo Stock Exchange fell 22.04 points, or 1.42%, at 1,535.20.

All 33 issues of industry category of Topix index ended into red territory, with Mining, Securities & Commodities Futures, Real Estate, Other Financial Business, Pulp & Paper, and Oil & Coal Products issues being notable losers.

 

More than 60,500 new COVID-19 infections were reported across the United States on Thursday, the largest single-day tally record, stoking fears that new lockdowns could take a toll on the economic recovery. Japan's capital Tokyo also continued to see a record daily number of fresh COVID-19 cases, marking 243 new infections on Friday.

Uniqlo casual wear operator Fast Retailing dropped after it reported plunging profits and lowered its annual profit outlook. Uniqlo casual wear operator Fast Retailing dropped 3.77 percent to 60,010 yen after it reported plunging profits and lowered its annual profit outlook.

CURRENCY: The dollar stood at 106.83-84 yen late afternoon on Friday, down from 107.24-28 yen on Thursday.

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