Japanese shares hit 1-1/2-week low on virus resurgence fears

SYDNEY, June 25 (Reuters) - Japanese stocks ended at a more
than one-week low on Thursday, tracking losses on Wall Street,
as rising coronavirus cases in the United States and many other
countries dented hopes of a quick global economic recovery.
The benchmark Nikkei average .N225 fell 1.2% to 22,259.79,
its lowest closing level since June 15.
Highly cyclical air transport .IAIRL.T , non-ferrous metals
.INFRO.T and iron and steel .ISTEL.T were among the worst
performing sectors on the main bourse.
Overnight, Wall Street's three major indexes suffered their
biggest daily percentage drop in almost two weeks as a surge in
coronavirus cases intensified fears of another round of
government lockdowns and worsening economic damage. .N
E-mini futures for the S&P 500 index ESc1 were last quoted
down 0.5% in late Asian trade.
The broader Topix .TOPX shed 1.2% to 1,561.85, its lowest
closing since June 15, with all but one of the 33 sector
sub-indexes on the Tokyo exchange finishing lower.
Blue-chip exporters led the declines, with Toyota Motor Corp
7203.T shedding 2.6%, while Panasonic Corp 6752.T and Nikon
Corp 7731.T lost 3.8% and 3.1%, respectively.
SoftBank Group Corp 9984.T slipped 0.5% as its founder and
chief executive Masayoshi Son on Thursday told shareholders not
to expect dividends for some time while share buyback plan is in
progress. Bucking the overall weakness, Olympus Corp 7733.T surged
11.2% to hit a four-month high after the company said on
Wednesday it had agreed to sell its historic but unprofitable
camera business to Japan Industrial Partners Inc.

Analysts said the decision came as a positive surprise.
NEC Corp 6701.T advanced 2.4% after the company said on
Thursday it would discuss forming a capital alliance with
telecommunications company Nippon Telegraph and Telephone (NTT)
at its board meeting later in the day. Shares of
NTT 9432.T slipped 0.7%.