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Japanese stocks fall on worries over fresh coronavirus cases

Published 06/18/2020, 11:39 AM
Updated 06/18/2020, 11:40 AM
© Reuters.
USD/JPY
-
US500
-
JP225
-
SPY
-
TOPX
-
6472
-
7974
-
9684
-
IAIRL.T
-
IMING.T
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IRLTY.T
-

TOKYO, June 18 (Reuters) - Japanese stocks fell on Thursday,
as a spike in coronavirus infections across the United States
and China raised doubts about a swift recovery in the global
economy.
The benchmark Nikkei average .N225 fell 1.01% to 22,229.02
by the midday break, with only 22 advancers against 200
decliners.
Six states across the United States reported record
increases in new coronavirus cases on Tuesday, while authorities
in Beijing ramped up mobility restrictions to contain the virus.
That also resulted in the benchmark S&P index .SPX falling
0.3% on Wednesday.
The broader Topix .TOPX lost 0.77% to 1,587.09 by the
recess, with 30 of the 33 sector sub-indexes on the Tokyo
exchange posting declines.
The yen also firmed against the dollar, with the dollar
trading at 106.83 yen JPY= , down 0.17% during the session,
hurting the earnings outlook for exporters.
Highly cyclical real estate, mining and airline shares led
declines on the main bourse.
The real estate sector .IRLTY.T tumbled 2.67%, mining
stocks .IMING.T dropped 2.41% and airlines .IAIRL.T fell
1.95%.
Machinery manufacturer NTN Corp 6472.T slipped 6.30% after
the company forecast a net loss to 43.9 billion yen for the year
ending in March.
A bright spot were gaming companies Nintendo 7974.T , which
rose 2.7% to hit its highest level in 12 years, and Square Enix
Holdings 9684.T , which advanced 3.76%, as they benefit from
strong demand as people stay home during the coronavirus
outbreak.

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