Tokyo stocks close lower on virus fears

News24
26 Oct 2020, 13:42 GMT+10

Tokyo stocks closed lower on Monday over worries about coronavirus cases spiking in Europe and more countries imposing new measures against the pandemic.

The Nikkei 225 edged down 0.09%, or 22.25 points, to end at 23,494.34, while the broader Topix index fell 0.39%, or 6.34 points, to 1 618.98.

"Trading started with stronger buying sentiment, but the market was weighed down by the spread of coronavirus infections in Europe and the US," Okasan Online Securities said in a commentary, noting Spain's state of emergency.

Spain has announced overnight curfews across the entire country except the Canary Islands, while France set a daily record of more than 50 000 Covid-19 cases.

Italy has ordered the closure of theatres, cinemas and gyms and said bars and restaurants must shut early.

The dollar fetched ¥104.88 in Asian trade, against ¥104.69 in New York late on Friday.

In Tokyo trading, ANA Holdings lost 1.10% to ¥2 365 after reports said Japan's largest airline will ask Toyota to temporarily employ some of its workers as part of its restructuring plans.

Other reports said it has signed a memorandum of understanding to purchase sustainable aviation fuel from the Singapore refinery of Finland-based Neste.

Its rival Japan Airlines was flat at ¥2 036.

SoftBank Group dropped 2.73% to ¥6 888 while Uniqlo casual wear operator Fast Retailing rose 1.36% to ¥73 650.

Toyota advanced 0.24% to ¥6 990 while Honda was up 0.19% to ¥2 585.

Source: News24

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