By Stanley White
TOKYO, Jan 26 (Reuters) - Japanese shares fell on Tuesday, as worries about delays in distributing coronavirus vaccines and as jitters before earnings season triggered profit-taking in stocks that are sensitive to the economic cycle.
The United States has struggled to ramp up vaccinations, European countries are facing delays from suppliers, and Japan is yet to start vaccinations, which is weighing on investor sentiment. addition, Merck (NS: PROR ) & Co Inc MRK.N has ended development of its COVID-19 vaccines, raising additional concern about a lack of supply. shares jumped to a 30-year high last week, but a busy earnings calendar in the United States and Japan this week, as well as a Federal Reserve meeting ending Wednesday, is prompting investors to take profits.
"There are renewed concerns that the coronavirus will be with us longer than anticipated, which explains the decline in cyclical stocks and gains in defensive shares," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley (NYSE: MS ) Securities.
Several Bank of Japan policymakers called for more flexible purchases of exchange-traded funds, which may emerge as another negative factor for equities when the central bank reviews its policies in March, according to some analysts. underperformers on the Topix 30 were Daikin Industries Ltd 6367.T , down 2.38%, followed by Toyota Motor Corp 7203.T losing 2.07%.
There were 57 advancers on the Nikkei index against 162 decliners.
The volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 0.4 billion, compared to the average of 1.12 billion in the past 30 days.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.