Tokyo stocks close lower as virus cases surge

Shanghai markets
Shanghai markets
owngarden/getty

Tokyo stocks closed lower on Wednesday after the Japanese capital logged a record daily number of coronavirus cases.

The benchmark Nikkei 225 index lost 1.10% or 286.48 points to end at 25 728.14, while the broader Topix index slipped 0.81% or 14.01 points to 1 720.65.

Tokyo recorded 493 new Covid-19 infections on Wednesday - the city's highest daily figure since the pandemic began.

Infections are gradually increasing across Japan, and on Tuesday the northern Hokkaido region asked people in its capital city to avoid non-essential outings if infection prevention measures cannot be taken.

"Tokyo stocks opened lower following losses on Wall Street... but the market lacked a sense of direction today," Okasan Online Securities said in a note.

In Tokyo trading, SoftBank Group was down 0.91% to ¥6 639 while Uniqlo casual wear operator Fast Retailing dropped 2.56% to ¥85 200.

Automakers and airlines were lower on worries that economic activity may shrink after reports said the Tokyo government may raise its virus alert level and recommend that shops close early.

Toyota dipped 1.61% to ¥7 319 while Honda fell 3.77% to ¥2 954.

Japan Airlines shed 1.69% to ¥1 976 while ANA Holdings tumbled 3.11% to ¥2 569.

Sony lost 1.81% to ¥9 237 while Panasonic sank 2.86% to ¥1 069.

The dollar fetched ¥104.00 in Asian trade, against ¥104.17 in New York.

Japan booked a trade surplus of ¥872.9 billion ($8.4 billion) in October, the fourth straight monthly surplus, according to finance ministry data released 10 minutes before the opening bell.

The headline figure, above market expectations of a ¥300 billion surplus, did not prompt any strong market reaction.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
ZAR/USD
15.32
(-0.51)
ZAR/GBP
20.45
(-0.00)
ZAR/EUR
18.52
(-0.71)
ZAR/AUD
11.32
(-0.66)
ZAR/JPY
0.15
(-0.31)
Gold
1828.37
(+1.01)
Silver
23.94
(+0.69)
Platinum
1012.00
(+1.91)
Brent Crude
47.23
(-0.96)
Palladium
2397.00
(+0.56)
All Share
58281.98
(+1.34)
Top 40
53482.74
(+1.36)
Financial 15
11306.98
(+0.61)
Industrial 25
79065.38
(-0.00)
Resource 10
55472.68
(+3.57)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 369 votes
No, I did not.
51% - 902 votes
My landlord refused
28% - 484 votes
Vote