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BCN-05
STOCKS-MARKETS-JAPAN-CLOSE
Tokyo’s Nikkei closes down 4.5% as Japan virus fears grow
TOKYO, March 26, 2020 (BSS/AFP) – Japanese stocks sank more than four
percent Thursday on profit-taking from a three-day rally, while traders were
also spooked after Tokyo’s governor warned of a possible expansion of the
coronavirus in the capital.
The Nikkei 225 index, which advanced 18 percent from Monday to Wednesday,
fell 4.51 percent, or 882.03 points, to 18,664.60.
The broader Topix index was down 1.78 percent, or 25.30 points, at
1,399.32.
The market started sharply lower as investors cashed in on their recent
gains, brokers said.
Sentiment also deteriorated after Tokyo Governor Yuriko Koike on Wednesday
urged residents to stay home this weekend, warning of a possible “explosion”
of the coronavirus after a record 41 new cases were recorded.
Koike said the Japanese capital, so far spared the draconian measures seen
in other major global cities, was at a “critical stage” in containing the
virus that has confined one third of the planet to their homes.
“Koike’s remarks threw cold water on investors,” said Daiwa Securities
chief technical analyst Eiji Kinouchi.
“Major cities around the world, notably New York, have been targeted by the
new coronavirus and Tokyo alone can hardly be an exception,” Kinouchi told
AFP.
BSS/AFP/GMR/1247 hrs