Japan stocks stumble as return to coronavirus lockdowns looms
By Junko Fujita and Stanley White
TOKYO, April 20 (Reuters) - Japanese shares fell on Tuesday by their most in a month, weighed down by worries that possible reintroduction of COVID-19 lockdowns in the country's biggest cities would slow the economic recovery.
Selling was seen across almost all sectors, with only one of the Tokyo Stock Exchange's 33 industry sub-indexes closing higher and just 16 stocks up on the benchmark Nikkei share average .N225 .
The Nikkei settled down 1.97% at 29,100.38, its worst since March 24, while the broader Topix .TOPX dropped 1.55% to 1,926.25 in its biggest slide in four weeks.
"It's just like the decline is bringing another sell-off today," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.
"There is a concern about virus resurgence not only in Japan but also in other countries. Investors are becoming cautious about an economic reopening, particularly since many Japanese companies are sensitive to the global economy."
Tokyo and Osaka may slide back into states of emergency due to a resurgence in COVID-19 cases. Japan this month put these prefectures as well as others under "quasi-states of emergency" but those measures have done little to reverse the trend so far. heavyweights Fast Retailing 9983.T , known for its Uniqlo clothing brand, fell 2.17%, while SoftBank Group 9984.T lost 1.84%.
Semiconductor-related stocks tracked their U.S. peers .SOX lower, with Tokyo Electron 8035.T falling 2.3%, Advantest 6857.T dropping 3.2% and Murata Manufacturing 6981.T losing 1.58%.
The top percentage losers on the Nikkei index were Marui Group Co Ltd 8252.T , down 5.82%, followed by Dentsu Group Inc 4324.T , losing 4.46%, and Daikin Industries Ltd 6367.T , down by 4.28%.
The biggest percentage gainers in the index were Kawasaki Kisen Kaisha Ltd 9107.T , up 2.19%, followed by Mitsui OSK Lines Ltd 9104.T , gaining 1.66%, and Oji Holdings Corp 3861.T , up by 1.4%.
The volume of shares traded on the Tokyo Stock Exchange's main board .TOPX was 1.09 billion, compared with the average of 1.29 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.
Drop an image here or Supported formats: *.jpg, *.png, *.gif up to 5mb
Drop an image here or