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Tokyo stocks close lower on virus fears


News24
26 Oct 2020

Tokyo stocks closed lower on Monday over worries about coronavirus cases spiking in Europe and more countries imposing new measures against the pandemic.

The Nikkei 225 edged down 0.09%, or 22.25 points, to end at 23,494.34, while the broader Topix index fell 0.39%, or 6.34 points, to 1 618.98.

"Trading started with stronger buying sentiment, but the market was weighed down by the spread of coronavirus infections in Europe and the US," Okasan Online Securities said in a commentary, noting Spain's state of emergency.

Spain has announced overnight curfews across the entire country except the Canary Islands, while France set a daily record of more than 50 000 Covid-19 cases.

Italy has ordered the closure of theatres, cinemas and gyms and said bars and restaurants must shut early.

The dollar fetched ¥104.88 in Asian trade, against ¥104.69 in New York late on Friday.

In Tokyo trading, ANA Holdings lost 1.10% to ¥2 365 after reports said Japan's largest airline will ask Toyota to temporarily employ some of its workers as part of its restructuring plans.

Other reports said it has signed a memorandum of understanding to purchase sustainable aviation fuel from the Singapore refinery of Finland-based Neste.

Its rival Japan Airlines was flat at ¥2 036.

SoftBank Group dropped 2.73% to ¥6 888 while Uniqlo casual wear operator Fast Retailing rose 1.36% to ¥73 650.

Toyota advanced 0.24% to ¥6 990 while Honda was up 0.19% to ¥2 585.

Source: News24

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