Tokyo's Nikkei Closes Lower Over Virus Worries
Mohammad Ali (@ChaudhryMAli88) Published December 04, 2020 | 12:53 PM
Okyo's key Nikkei index closed lower Friday, pushed down by worries over coronavirus vaccine distribution, as investors awaited a press conference by Japan's prime minister later in the day
Tokyo (UrduPoint / Pakistan Point News - 4th Dec, 2020 ) :Tokyo's key Nikkei index closed lower Friday, pushed down by worries over coronavirus vaccine distribution, as investors awaited a press conference by Japan's prime minister later in the day.
The benchmark Nikkei 225 index was down 0.22 percent or 58.13 points to end at 26,751.24, but gained 0.40 percent from a week earlier.
The broader Topix index inched up 0.04 percent or 0.69 points to 1,775.94. It lost 0.59 percent over the week.
The world passed 1.5 million global coronavirus deaths on Thursday, even as several nations readied plans to deliver vaccines early next year to break the cycle of restrictions.
US media reported that Pfizer had scaled back its Covid-19 vaccine production targets after running into difficulties securing the materials it needs to produce the vaccines at a large scale.
The US pharma giant had aimed to manufacture up to 100 million doses this year, a figure which has been reduced to 50 million, the reports said.
"Stock gains fade after Dow Jones reported that Pfizer expects to ship half the Covid-19 vaccines it originally planned for 2020 due to supply-chain problems," Stephen Innes, chief global markets strategist at AxiCorp, said in a note.
But Innes added that no one is surprised "there are not enough sub-arctic temperature shipping containers instantly available".
Investors are closely watching the November US jobs data due later in the day, analysts said. They are also eyeing a press conference from Prime Minister Yoshihide Suga scheduled later Friday.
In Tokyo share trading, market heavyweights Softbank Group and Fast Retailing, operator of the Uniqlo casual wear chain, dropped 1.63 percent to 7,260 Yen and 1.42 percent to 86,420 yen, respectively.
Airlines were lower with Japan Airlines sinking 1.16 percent to 2,033 yen while ANA Holdings fell 2.49 percent to 2,486.5 yen.
Toyota rose 0.23 percent to 7,181 yen while Honda gained 1.45 percent to 3,130 yen. Nintendo grew 1.20 percent to 56,930 yen.
The Dollar fetched 103.90 yen in Asian trade, against 103.84 yen in New York and 104.47 yen late in Tokyo on Thursday.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 May 2024
Today Gold Rate in Pakistan 10 May 2024
London, Frankfurt stocks hit record highs on rate-cut hopes
May 9 culprits must be brought to logical end: Hanif Abbasi
Sanchez escapes through dust and gravel for nervy Giro triumph
Balochistan Assembly passes resolution to condemn May 9 attacks
Spain govt vows to block hostile BBVA bid for rival bank
NADRA holds open court to resolve public issues in Quetta
In south Brazil, race on to deliver aid ahead of new storms
Appeals against cipher case verdict adjourned till May 15
PIPS collaborates with CfP to enhance technological, educational infrastructure
China launches new satellite
More Stories From Business
-
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 10 May 2024
3 minutes ago -
Today Gold Rate in Pakistan 10 May 2024
39 minutes ago -
Tokyo stocks open higher after US gains
1 hour ago -
Spain govt vows to block hostile BBVA bid for rival bank
10 hours ago -
Tajir Dost Scheme aims at broadening tax-base: Federal Minister for Finance and Revenue, Muhammad Au ..
10 hours ago -
ICCI organize ceremony to express solidarity with Armed Forces of Pakistan
11 hours ago
-
Habib Arif posted as MD SIDB KP
11 hours ago -
Finance minister highlights economy-stabilizing efforts
11 hours ago -
Call for Tobacco Tax Increase to Safeguard Child Rights and Public Health
12 hours ago -
IPAK to raise Rs. 1.77b in book building process
11 hours ago -
Spanish bank BBVA goes hostile in Sabadell takeover bid
11 hours ago -
Pakistan's total liquid foreign reserves surge over $ 14.45 billion
11 hours ago