Business & Investment

Japanese equities: Japanese equities increase losses as investors support more blockades

Tokyo: Japanese stocks Investors feared a potential blockade in the country’s largest city, leading to widening losses on Wednesday, questioning the prospect of a resumption of the economy.

Nikkei Equity averages fell 2.03% to close at 28,508.55, while the broader Topix fell 1.98% to 1,888.18, with both indices falling most in about a month.

“Japan is lagging behind other countries in terms of virus containment, so investors around the world have found little reason to buy Japanese equities,” said Hideyuki Ishiguro, senior strategist. Daiwa Securities..

“What is exacerbating the sentiment is that Japan plans to re-declare a state of emergency.”

Broadcaster NHK reported Wednesday that the government is considering an emergency in Tokyo and Osaka as the number of new COVID-19 cases is skyrocketing. This allows provincial authorities to impose curbs to stop the spread of the infection.

The new declaration will mark Japan’s third complete state of emergency since the epidemic began. The total economic loss from new emergencies in the three regions is 1,015.6 billion yen ($ 10.71 billion). Nomura Research Institute Said in the report.

The Nikkei Stock Average fell the most in the materials sector such as steel makers.

Nippon Steel fell 5.4%, while JFE Holdings and Kobe Steel fell 5.39% and 4.87%, respectively.

Toshiba It fell 3.3% after rejecting the $ 20 billion takeover offer. CVC Capital Partners..

Rakuten Group’s stock price fell 5.5%, making it the biggest loser in the Nikkei. After Tencent’s unit became a major shareholder, it was reported that Japan and the United States would jointly monitor e-commerce companies.

Softbank Group Earn 1.03% in the $ 100 billion news Vision Fund It is common to report record earnings next month.

Japanese equities: Japanese equities increase losses as investors support more blockades

https://economictimes.indiatimes.com/markets/stocks/news/japanese-shares-extend-losses-as-investors-brace-for-more-lockdowns/articleshow/82176819.cms Japanese equities: Japanese equities increase losses as investors support more blockades

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