facebooktwittertelegramwhatsapp
copy short urlprintemail
+ A
A -
webmaster
AFP
Tokyo
Tokyo’s benchmark Nikkei index lost more than 1.5 percent Monday, as the spreading coronavirus prompted investors to cash in on recent gains with a higher yen also weighing on the market.
The Nikkei 225 index, which jumped nearly four percent on Friday, fell 1.57 percent, or 304.46 points, to close at 19,084.97.
The broader Topix index dropped 1.64 percent, or 23.95 points, to 1,435.54.
Tokyo stocks opened sharply lower, taking a negative lead from Wall Street, where shares plunged on Friday after three positive sessions despite the House of Representatives approving a $2-trillion package to address the coronavirus crisis.
Selling was also driven by Monday’s expiry of the right to receive company dividends, leading many investors to sell off their holdings, analysts said.
“Market sentiment remained weak during the day due to a strong yen, profit-taking and the expiration of the dividend right,” Shinichi Yamamoto, a broker at Okasan Securities in Tokyo, told AFP.
The dollar changed hands at 107.69 yen in Asian afternoon trade, down from 107.88 yen in New York on Friday and 110-yen levels seen early last week.
“Investors are nervously watching a possible lockdown in Tokyo, which will have a massive impact on the Japanese economy,” Yamamoto said.
Tokyo Governor Yuriko Koike urged residents to stay home during the weekend, warning of a possible “explosion” of the coronavirus in the capital.
Major shares were down across the board, with Toyota losing 3.30 percent and Uniqlo casual wear operator Fast Retailing down 2.45 percent.
Sony was down 3.79 percent after it said the virus had hammered its music and entertainment venues, as well as sales of its electronic products.
Fujifilm bucked the trend, soaring 5.97 percent amid reports the government will support research linked to its anti-flu medicine Avigan as a potential treatment for the coronavirus.
copy short url   Copy
31/03/2020
116