spot_img
28.5 C
Philippines
Friday, April 26, 2024

Tokyo stocks open lower on virus worries, higher yen

- Advertisement -
- Advertisement -

Tokyo stocks opened lower on Thursday as traders weighed economic recovery hopes against fears of a second wave of coronavirus infections, with a stronger yen weighing on the market.

Tokyo stocks open lower on virus worries, higher yen
A pedestrian wearing a face mask walks past an electronic quotation board displaying closing numbers of the Tokyo Stock Exchange in Tokyo on June 16, 2020. AFP

The benchmark Nikkei 225 index was down 0.28 percent or 62.06 points at 22,393.70 in early trade, while the broader Topix index slipped 0.30 percent or 4.79 points to 1,582.30.

"Japanese share trading is seen as mixed… while a higher yen is weighing on the market after the US market" had a lacklustre session, Okasan Online Securities chief strategist Yoshihiro Ito said.

In New York, the Dow and S&P 500 both fell Wednesday as markets monitored increased coronavirus cases amid worries US stocks are overvalued.

Meanwhile, New York City's restaurants and bars—closed for three months due to the coronavirus pandemic—will be allowed to open outside areas next week, Governor Andrew Cuomo said Wednesday.

- Advertisement -

New York state has drastically reduced its number of daily deaths, infections, and hospitalisations since it become ground zero in America's COVID-19 fight in late March.

In Japan, the government is expected this weekend to loosen guidelines on travel, despite lingering worries about the second wave of infections.

The dollar fetched 106.84 yen in early Asian trade, against 106.97 yen in New York and 107.28 yen in Tokyo late Wednesday.

In Tokyo, automakers were among losers, with Toyota trading down 0.85 percent at 6,885 yen and Nissan down 1.98 percent at 421.6 yen.

Airlines were also lower, with Japan Airlines dropping 3.43 percent to 2,069.5 yen and ANA Holdings dipping 0.89 percent t0 2,620 yen.

Nintendo was up 2.48 percent at 49,950 yen after it and group firm Pokemon Co. announced several new games and apps in the critter-collecting Pokemon series.

On Wall Street, the Dow finished at 26,119.61, down 0.7 percent.

- Advertisement -

LATEST NEWS

Popular Articles