Roundup: Tokyo stocks close lower on record COVID-19 infection cases in Japan
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E-mail Xinhua, July 30, 2021
TOKYO, July 30 (Xinhua) -- Tokyo stocks closed largely lower Friday, with the Nikkei index tumbling to its lowest level in around seven months, as uncertainty deepened over Japan's economic rebound following over 10,000 COVID-19 infection cases reported nationwide for the first time a day earlier, local media reported Friday.
The 225-issue Nikkei Stock Average finished down 498.83 points, or 1.80 percent, from Thursday at 27,283.59.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 26.35 points, or 1.37 percent, lower at 1,901.08.
Declining issues were led by pharmaceutical, information and communication, and consumer credit issues.
Stocks were in negative territory throughout the day, with the Nikkei shortly down more than 500 points before finishing at its record low since Jan. 6, as COVID-19 cases nationwide reached 10,693 on Thursday. Tokyo confirmed 3,865 infection cases the same day, marking an all-time high for the third straight day.
The market was also drove down by government's plans to extend the COVID-19 state of emergency to four other prefectures struggling against the virus.
"The recent surge in coronavirus cases has amplified concerns about potential restrictions in movement, as well as for the country's economic recovery," said Maki Sawada, a strategist in Nomura Securities Co.'s investment content department.
Meanwhile, gains on recent earnings reports for the April-June period have been limited, with the extent of upward revisions failing to meet investors' high expectations, brokers said.
On the First Section, decliners outnumbered advancers 1,875 to 275, while 40 finished unchanged.
Airlines were struck by the record high COVID-19 cases reported in Japan over the past few days, as ANA Holdings went down 0.9 percent, and Japan Airlines slipped 0.9 percent.
Going against the downward trend, Fujiya gained 1.4 percent, after the confectionary company revised upward Thursday its earnings forecast for the business year through December.
Omron rose 2.3 percent as the electronics company reported strong earnings Thursday for the April-June quarter, with its operating profit more than doubling from the previous year.
Trading volume on the main section increased to 1,236.71 million shares from Thursday's 1,169.71 million shares. Enditem
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