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Japanese shares extend falls as coronavirus worries persist

Published 17/07/2020, 08:27
© Reuters.
JP225
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TOPX
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7735
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6770
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6857
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2330
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9201
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9232
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IAIRL.T
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IRLTY.T
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ISTEL.T
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MTHR
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4563
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TOKYO, July 17 (Reuters) - Japanese shares extended falls
into a second session on Friday as the relentless spread of the
coronavirus prompted some investor scepticism about a swift
economic recovery.
The benchmark Nikkei share average .N225 ended 0.32% lower
at 22,696.42, with 50 advancers on the index against 170
decliners.
The broader Topix .TOPX lost 0.33% at 1,573.85, with all
but seven of the 33 sector sub-indexes on the Tokyo exchange
trading in the red.
Japanese stocks opened modestly higher, taking cues from
E-Mini futures for the S&P 500 EScv1 , which gained on COVID-19
vaccine and U.S. stimulus hopes.
The mood of risk aversion flared up in the afternoon session
after Tokyo posted another record daily high of COVID-19 cases
at 293 on Friday. Airline shares .IAIRL.T took a hit and fell 3.06% as the
Japanese government barred Tokyo residents from claiming a
travel subsidy aimed at reviving pandemic-hit domestic tourism
industry. ANA Holdings Inc 9232.T slumped 3.64%, while Japan
Airlines Co Ltd 9201.T dipped 2.34%.
Other issues that led declines on the main bourse were real
estate .IRLTY.T and iron and steel .ISTEL.T , falling 2.26%
and 2.07% respectively.
Analysts said some investors closed positions ahead of the
forthcoming corporate earnings.
Among gainers, semiconductor-related shares advanced after
Taiwan Semiconductor Manufacturing Co Ltd 2330.TW posted a
record quarterly net profit jump of 81% and forecast a revenue
growth above 20% for this year. Screen Holdings Co Ltd 7735.T gained 2.27%, while
Advantest Corp 6857.T and Alps Alpine Co Ltd 6770.T added
1.36% and 1.63%, respectively.
The index of Mothers start-up market .MTHR slipped 1.59%
to 985.06, a level unseen since July 6, with biotech AnGes
4563.T falling 4.5%.

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