Japan shares extend slide on worries over coronavirus

  • Reuters
  • Stock Market News
Japan shares extend slide on worries over coronavirus
Credit: © Reuters.

SYDNEY, March 10 (Reuters) - Japanese shares declined in a volatile session on Tuesday as worries persisted over the economic impact from the fast-spreading coronavirus and risks of lower oil prices.

The Nikkei average .N225 fell 1.5% to 19,405.57 by the midday break, having earlier fallen to a three-year low of 18,891.77. It plunged 5.1% on Monday tracking a global sell-off.

The broader Topix .TOPX shed 1.2% to 1,371.82, also having trimmed earlier losses.

All of the 33 sector sub-indexes on the Tokyo Stock Exchange were trading lower, with highly cyclical mining .IMING.T , sea transport .ISHIP.T and textiles .ITXTL.T being the worst three performers.

The virus has spread to more than 100 nations and infected over 114,000 people globally https://tmsnrt.rs/3aIRuz7, with Italy ordering everyone across the country not to move around other than for work and emergencies, while banning all public gatherings. sentiment further was traders warning of downside risks to oil prices, which fell to their lowest since 1991 on Monday and added to concerns of mounting economic damage due to the epidemic. Oil futures stabilised in Asia on Tuesday. MKTS/GLOB

Tokyo-listed oil-related companies suffered another bruising rout, with Inpex Corp 1605.T tumbling 7.4% and JXTG Holdings Inc 5020.T shedding 3.4%.

After U.S. Treasury yields US10YT=RR declined to record lows overnight, rate-sensitive TSE REIT index .TREIT slumped 5.3%.

Elsewhere, Ricoh Co Ltd 7752.T jumped 5.0% after the company announced a plan to sell partial stakes in Ricoh Leasing Co Ltd 8566.T to Mizuho Leasing Co Ltd 8425.T in late-April, while Ricoh Leasing and Mizuho Leasing lost 6.0% and 2.4%, respectively.

Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb

Error: File type not supported

Drop an image here or


Related Articles