Tokyo stocks open lower on Covid-19 worries

The benchmark Nikkei 225 index was down 0.61 per cent or 171.23 points at 27,967.80 in early trade, while the broader Topix index slipped 0.42 per cent or 7.82 points to 1,847.12. — AFP pic

TOKYO, Jan 12 ― Tokyo stocks opened lower today with investors disheartened by falls on Wall Street and facing concern over continued rises in virus cases in Japan.

“In addition to profit-taking sell orders after rallies last weekend, Japanese shares are under pressure from rising coronavirus infections at home and worries over US political turmoil,” also a factor in the US market rout, Mizuho Securities said.

The Japanese market was closed yesterday for a national holiday.

The dollar fetched ¥104.14 (RM4.06) in early Asian trade, against ¥104.20 in New York late yesterday.

In Tokyo, Sony was down 1.03 per cent at ¥10,605, trading house Mitsubishi Corp was down 1.29 per cent at ¥2,594, and real estate firm Mitsui Fudosan was off 1.02 per cent at ¥3,895.

Chugai Pharmaceutical rocketed 10.55 per cent to ¥6,119 after a British government-funded trial found Chugai's arthritis medication tocilizumab, marketed as Actemra, lowered patients' risk of death from Covid-19 by 24 per cent, with their stays in intensive care units shortened by up to 10 days.

On Wall Street, the Dow ended down 0.3 per cent at 31,008.69 points. ― AFP

Source: Malay Mail