Friday, November 20, 2020

Tokyo stocks open lower ahead of long weekend

The benchmark Nikkei 225 index was down 0.60 per cent or 152.94 points at 25,481.40 in early trade, while the broader Topix index slipped 0.38 per cent or 6.50 points to 1,719.91. — Reuters pic
The benchmark Nikkei 225 index was down 0.60 per cent or 152.94 points at 25,481.40 in early trade, while the broader Topix index slipped 0.38 per cent or 6.50 points to 1,719.91. — Reuters pic

TOKYO, Nov 20 ― Tokyo stocks opened lower today in cautious trade ahead of a long weekend, with continued worries about rising coronavirus cases.

The benchmark Nikkei 225 index was down 0.60 per cent or 152.94 points at 25,481.40 in early trade, while the broader Topix index slipped 0.38 per cent or 6.50 points to 1,719.91.

“Trade is seen dominated by a wait-and-see attitude ahead of three days of holidays, after modest gains in the US market,” senior market analyst Toshiyuki Kanayama of Monex said in a commentary.

Wall Street stocks snapped a two-session skid as optimism over revived US stimulus talks countered worries about higher coronavirus cases.

But the Dow Jones Industrial Average added just 0.2 per cent at 29,483.23, after many bourses elsewhere in the world ended in negative territory on concerns over the coronavirus.

The subdued trade in Tokyo comes a day after Japan's prime minister said the country is on “maximum alert” after logging a record number of daily coronavirus infections, though no immediate restrictions are planned.

Among major shares in Tokyo, Uniqlo casual wear operator Fast Retailing was down 3.37 per cent at ¥81,280 (RM3,200), Sony was off 1.17 per cent at ¥9,141, and chip-testing equipment manufacturer Advantest was down 0.99 per cent at ¥6,970.

The dollar fetched ¥103.79 in early Asian trade, against ¥103.72 in New York late yesterday.

Japan's core consumer price index, which excludes fresh food, was down 0.7 per cent year-on-year in October, according to data released by the internal affairs ministry before the opening bell.

The figure was in line with market expectations. ― AFP




Source: Malay Mail

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