TOKYO – Tokyo’s Nikkei index opened lower today after rising for eight straight days, tracking losses on Wall Street amid concerns about spiking coronavirus cases.
The benchmark Nikkei 225 index was down 0.41%, or 103.74 points, to 25,417.41 in early trade, while the broader Topix index lost 0.6%, or 10.42 points, to 1,715.81.
“The selling sentiment is likely to be strong today because of concerns about the spread of infection in the US and Japan,” said Mizuho Securities in a note.
Concerns about spiking infections sent US stocks to a negative finish yesterday, overshadowing optimism from news early in the week about a potential vaccine.
The benchmark Dow Jones Industrial Average lost 1.1%.
The broader S&P 500 fell 1%, while the tech-dominated Nasdaq dropped 0.7%.
In Tokyo trading, tyre-maker Bridgestone dropped 3.06% to ¥3,642 (RM143.50) after a French minister yesterday said the company has turned down a French government plan to keep open a plant there.
SoftBank Group fell ¥0.86% to 6,621, Toyota slid 0.61% to ¥7,389, while Honda lost 1.2% to ¥2,912.50.
Nissan jumped 7.75% to ¥440.7 after it said it trimmed net losses in the second quarter and upgraded its full-year forecasts as the global auto industry showed signs of recovery from the pandemic.
The dollar traded at ¥105.02 in early Asian trade, against ¥105.10 in New York. – AFP, November 13, 2020
