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Japanese shares fall on pandemic concerns, Wall Street decline

Published 23/04/2021, 03:36
© Reuters.
JP225
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TOPX
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6301
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7735
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4689
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9022
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8035
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9202
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8233
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6857
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6954
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6594
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TOKYO, April 23 (Reuters) - Japanese shares fell on Friday,
dragged lower by technology firms, as the nation's stricter
curbs to contain COVID-19 increased concerns about its economic
impact, with sentiment dented further by a weak finish overnight
on Wall Street.
The Nikkei share average .N225 declined 0.60% to 29,012.48
by 0157 GMT, while the broader Topix .TOPX fell 0.38% to
1,915.14.
"Market sentiment has been weak due to concerns on slow
economic recovery as Japan plans to introduce emergency measures
while vaccine rollouts are slow," said Masayuki Kubota, chief
strategist at Rakuten Securities.
"That sentiment is easily affected even by a decline in the
U.S. market."
Wall Street's main indexes dropped on Thursday, on reports
that President Joe Biden planned to almost double the capital
gains tax. .N
Japan, struggling to contain the pandemic's resurgence,
plans to declare "short and powerful" states of emergency for
Tokyo and other big cities for April 25 to May 11.
The government will require restaurants, bars, and karaoke
parlours serving alcohol to close, and big sporting events to be
held without spectators. Tech firms fell, with Tokyo Electron 8035.T losing 1.81%,
Fanuc 6954.T falling 2.29%, Advantest 6857.T shedding 1.92%.
Nidec 6594.T , maker of precision motors used in computer
hard drives and smartphones, tumbled 7.37% after its annual
forecast for the current business year missed analysts'
consensus.
The largest percentage loser on the Nikkei was Screen
Holdings 7735.T , down 3.5 %, followed by Komatsu 6301.T and
Z Holdings Corp 4689.T down 2.86% and 2.58%, respectively.
Pandemic-hit shares gained the most on index, with ANA
Holdings 9202.T up 3.21%, followed by Central Japan Railway
9022.T gaining 2.3% and Takashimaya 8233.T up 2.04%.
There were 75 advancers on the Nikkei index against 142
decliners.

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