Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Japan shares drop on fears of second coronavirus wave

Published 15/06/2020, 04:23
Updated 15/06/2020, 04:24
© Reuters.

TOKYO, June 15 (Reuters) - Japanese stocks fell on Monday as
concerns about a spike in new cases of COVID-19 worldwide poured
cold water on hopes of a quick recovery from a
coronavirus-driven global recession.
The benchmark Nikkei average dropped 0.50% to 22,194.99
.N225 by the midday break, with real estate, airlines and
shippers leading declines.
As new coronavirus cases resurfaced in China and the United
States, worries about a second wave have deepened, prompting
fears about prolonged damage to the economy. On the Nikkei index, there were 91 advancers against 125
decliners on Monday with cyclical shares leading the losses.
Airlines .IAIRL.T , one of the hardest-hit victims of the
global epidemic, were the biggest decliner among the Tokyo Stock
Exchange's 33 industry subindexes as concerns about the virus
reared their head.
Shippers .ISHIP.T dropped 0.4% and real estate .IRLTY.T
lost 1.4%.
Semi-conductor-related shares were weak, with chip equipment
manufacturer Advantest 6857.T dropping 3.57%, Tokyo Electron
8035.T losing 2.9% and Screen Holdings 7735.T shedding 2.7%.
Sapporo Holdings 2501.T lost 3.7 % after Nomura cut its
rating on the beverage firm and lowered the target price, citing
the impact of the COVID-19 epidemic.
The broader Topix .TOPX lost 0.1 % to 1569.60.
The market showed muted response to a barrage of Chinese
economic data that were slightly weaker than expected.
Industrial output rose for a second straight month in May
but the gain was smaller than expected, suggesting the economy
is still struggling to get back on track after the virus crisis.

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.