Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Japanese shares fall on virus concerns, corporate earnings

Published 07/10/2020, 11:36 AM
Updated 07/10/2020, 11:40 AM
JP225
-
TOPX
-
6758
-
6952
-
9983
-
9984
-
IMING.T
-
IRLTY.T
-
ISECU.T
-

TOKYO, July 10 (Reuters) - Japanese shares fell on Friday as
a spike in fresh coronavirus cases at home and abroad fuelled
concerns that the path to economic recovery could be hindered,
while the market braced for corporate earnings pain.
The benchmark Nikkei share average .N225 fell 0.23% to
22,476.74 by the midday break, with 43 advancers on the index
against 177 decliners.
In the broader market, Topix .TOPX dropped 0.63% to
1,547.37 by the recess, with all but two of the 33 sector
sub-indexes on the Tokyo exchange trading in the red.
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. Highly cyclical mining .IMING.T , securities brokerages
.ISECU.T and real estate .IRLTY.T were the top three worst
performers on the main bourse.
Fast Retailing Co 9983.T slipped 2.21% after Uniqlo owner
lowered its outlook for the year as coronavirus-led store
closures and weak consumer spending restrained the company's
growth. E-mini futures for the S&P 500 EScv1 inched down 0.11%,
which created an added headwind to the market.
Further losses, however, were offset by gains in
tech-related stocks following a 0.53% overnight gain in Nasdaq,
with Casio Computer Co 6952.T adding 2.68% and Nikkei
heavyweight SoftBank Group Corp 9984.T rising 1.56%.
Bucking the overall losses, Sony Corp 6758.T gained 2.7%
following media reports about the company making a $250 million
strategic investment in Epic Games, the creator of “Fortnite”.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.