Tokyo Shares Open Lower On Pandemic Fears
Faizan Hashmi 2 months ago Wed 04th August 2021 | 08:30 AM
The Nikkei 225 index gave up 0.40 percent, or 110.38 points, to 27,531.45 in early trade, while the broader Topix index slipped 0.33 percent, or 6.44 points, to 1,924.70.
Regional governors have called on the public not to travel during the summer holidays, particularly asking those who live in urban hubs such as Tokyo not to visit their family elsewhere in a drive to reduce infection risks.
"Hopes were high that Japanese shares would receive support from gains of US shares, but the appreciation of the Yen and worries about coronavirus denting economic activities are weighing on the market," Okasan Online Securities said in a note to clients.
Overnight, the Dow added 0.8 percent, while the broad-based S&P 500 also gained 0.8 percent to close at a new all-time high of 4,423.15.
The auto giant gave up early gains and slipped 0.10 percent to 10,045 yen, while the media-electronics conglomerate dropped 3.19 percent to 11,080.
Nippon Steel soared 7.60 percent to 2,124 yen after it upgraded its annual outlook and expected to make a record high profit.