Xinhua
28 Jul 2021, 19:14 GMT+10
TOKYO, July 28 (Xinhua) -- Tokyo stocks closed largely lower Wednesday as concerns rose over the country's economic recovery outlook after the Japanese capital marked a record number of COVID-19 infection cases the earlier day, local media reported Wednesday.
The 225-issue Nikkei Stock Average finished down 388.56 points, or 1.39 percent, from Tuesday at 27,581.66.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange ended 18.39 points, or 0.95 percent, lower at 1,919.65.
Declining issues were led by metal product, information and communication, and service issues.
Stocks were lower throughout the day, tracking overnight losses on Wall Street and snapping a three-day increasing tendency following 2,848 COVID-19 infections reported in Tokyo on Tuesday, the highest since the 2,520 recorded on Jan. 7.
The rise in figures came as some health experts believe Tokyo, currently under a COVID-19 state of emergency, is in the midst of a fifth wave of the pandemic.
The market expanded its losses in the afternoon, depressed by a remained fall in the Chinese markets due to a crackdown on tech firms by Chinese authorities, brokers said.
"Some investors viewed yesterday's record high as an indication of a further surge in COVID-19 infections in the capital," said Shingo Ide, chief equity strategist at the NLI Research Institute, adding that a drop in U.S. stocks futures was also bringing sentiment down.
Meanwhile, market participants are expecting U.S. Federal Reserve Chairman Jerome Powell's comments as the Fed's two-day policy meeting ended later in the day to confirm the timing of incentive narrowing and interest rate goes up, Ide added.
On the First Section, decliners outnumbered advancers 1,679 to 422, while 89 finished unchanged.
Shares in railways and department stores dropped as a result of the capital's record figure of infections.
Odakyu Electric Railway fell 1.7 percent, Central Japan Railway declined 1.8 percent, and Takashimaya dropped 1.8 percent.
Going against the downward trend, Mitsubishi Motors soard 8.4 percent, after the automobile manufacturer reported Tuesday an optimistic earnings report for its April-June quarter and amended upward its earnings outlook for the business year through March 2022.
Trading volume on the main section increased to 1,037.88 million shares from Tuesday's 938.97 million shares.
Get a daily dose of Brazil Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Brazil Sun.
More InformationNew Delhi [India], June 12 (ANI): BJP MP Bhubaneswar Kalita, who was a member of the all-party delegation under the Operation Sindoor...
Amstelveen [Netherlands], June 12 (ANI): The Indian Men's Hockey Team put on a very spirited display against Argentina, but went down...
DUBAI, 11th June, 2025 (WAM) - The United Arab Emirates participated in the 'BRICS Youth Summit' hosted by the Federative Republic...
Senegal notched a 3-1 win in a friendly played in Nottingham Senegal's national football...
The event welcomed young policymakers and energy professionals from all BRICS member states ...
Buenos Aires [Argentina], June 11 (ANI): Argentina head coach Lionel Scaloni revealed that Lionel Messi asked to be substituted during...
BURBANK, California: Warner Bros Discovery is officially breaking itself in two. In a move that signals a major pivot for the media...
NEW YORK, New York - U.S. stocks closed modestly lower Wednesday despite a tentative trade agreement between the United States and...
Throughout human history, zoonotic diseases, illnesses that jump from animals to humans, have shaped civilizations, triggered pandemics,...
WASHINGTON, D.C.: A boom in U.S. solar energy installations may be running out of steam as shifting federal priorities, new tariffs,...
NEW YORK CITY, New York: Oil prices remained steady on June 9 as investors looked ahead to the outcome of the U.S.-China trade talks...
CHANDRAPUR/SOLAPUR (India): As India doubles down on coal to fuel its growing energy needs, an invisible crisis is surfacing: the country...