Investing.com - Financial Markets Worldwide
📈 Will you get serious about investing in 2025? Take the first step with 50% off InvestingProClaim Offer

Japanese stocks track Wall Street losses on renewed virus fears

Published 06/29/2020, 11:43 AM
Updated 06/29/2020, 11:50 AM
© Reuters.
JP225
-
TOPX
-
8306
-
8316
-
9984
-
IINSU.T
-
IMING.T
-
ISTEL.T
-

SYDNEY, June 29 (Reuters) - Japanese shares fell on Monday,
tracking Wall Street's sharp retreat on Friday after several
U.S. states imposed business restrictions to tackle a resurgence
in new coronavirus cases.
Cyclical stocks led declines on Japan's Nikkei average
.N225 , which dropped 1.3% to 22,214.69 by the midday break
after hitting its lowest level since June 16 earlier in the
session.
The Nikkei also fell below a major support level of its
25-day moving average, which was last at 22,365, for the first
time since April 7.
Wall Street's major indexes tumbled on Friday as some U.S.
states reconsidered their reopening plans after the early
lifting of restrictions was followed by a resurgence in new
infections. .N Further denting investor sentiment, the Wall Street Journal
reported that the Phase 1 U.S.-China trade deal could be at
risk. Tokyo-listed banks tracked U.S. counterparts lower, with
Mitsubishi UFJ Financial Group (MUFG) 8306.T and Sumitomo
Mitsui Financial Group (SMFG) 8316.T falling 1.9% and 1.5%,
respectively.
Shares of the Nikkei's heavyweight SoftBank Group 9984.T
dropped 1.3%.
The company said it expects a gain of around 600 billion yen
($5.6 billion) in the April-June quarter on the sale of T-Mobile
shares, but a derivative liability from call options received by
T-Mobile's top shareholder, Deutsche Telekom, is not included in
that figure.
The broader Topix .TOPX lost 1.2% to 1,558.44 by the
recess, with all of the 33 sector sub-indexes on the Tokyo
exchange trading lower.
Highly cyclical iron and steel .ISTEL.T , mining .IMING.T
and insurance .IINSU.T were the three worst-performing sectors
on the main bourse.

($1 = 107.1800 yen)

Latest comments

Install Our App
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.