Japanese shares fall on pandemic concerns, Wall Street decline

  • Reuters
  • Stock Market News
Japanese shares fall on pandemic concerns, Wall Street decline
Credit: © Reuters.

TOKYO, April 23 (Reuters) - Japanese shares fell on Friday, dragged lower by technology firms, as the nation's stricter curbs to contain COVID-19 increased concerns about its economic impact, with sentiment dented further by a weak finish overnight on Wall Street.

The Nikkei share average .N225 declined 0.60% to 29,012.48 by 0157 GMT, while the broader Topix .TOPX fell 0.38% to 1,915.14.

"Market sentiment has been weak due to concerns on slow economic recovery as Japan plans to introduce emergency measures while vaccine rollouts are slow," said Masayuki Kubota, chief strategist at Rakuten Securities.

"That sentiment is easily affected even by a decline in the U.S. market."

Wall Street's main indexes dropped on Thursday, on reports that President Joe Biden planned to almost double the capital gains tax. .N

Japan, struggling to contain the pandemic's resurgence, plans to declare "short and powerful" states of emergency for Tokyo and other big cities for April 25 to May 11.

The government will require restaurants, bars, and karaoke parlours serving alcohol to close, and big sporting events to be held without spectators. firms fell, with Tokyo Electron 8035.T losing 1.81%, Fanuc 6954.T falling 2.29%, Advantest 6857.T shedding 1.92%.

Nidec 6594.T , maker of precision motors used in computer hard drives and smartphones, tumbled 7.37% after its annual forecast for the current business year missed analysts' consensus. largest percentage loser on the Nikkei was Screen Holdings 7735.T , down 3.5 %, followed by Komatsu 6301.T and Z Holdings Corp 4689.T down 2.86% and 2.58%, respectively.

Pandemic-hit shares gained the most on index, with ANA Holdings 9202.T up 3.21%, followed by Central Japan Railway 9022.T gaining 2.3% and Takashimaya 8233.T up 2.04%.

There were 75 advancers on the Nikkei index against 142 decliners.

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