TOKYO, Nov 20, 2020 (BSS/AFP) – Tokyo stocks opened lower on Friday in
cautious trade ahead of a long weekend, with continued worries about rising
coronavirus cases.
The benchmark Nikkei 225 index was down 0.60 percent or 152.94 points at
25,481.40 in early trade, while the broader Topix index slipped 0.38 percent
or 6.50 points to 1,719.91.
“Trade is seen dominated by a wait-and-see attitude ahead of three days of
holidays, after modest gains in the US market,” senior market analyst
Toshiyuki Kanayama of Monex said in a commentary.
Wall Street stocks snapped a two-session skid as optimism over revived US
stimulus talks countered worries about higher coronavirus cases.
But the Dow Jones Industrial Average added just 0.2 percent at 29,483.23,
after many bourses elsewhere in the world ended in negative territory on
concerns over the coronavirus.
The subdued trade in Tokyo comes a day after Japan’s prime minister said
the country is on “maximum alert” after logging a record number of daily
coronavirus infections, though no immediate restrictions are planned.
Among major shares in Tokyo, Uniqlo casual wear operator Fast Retailing was
down 3.37 percent at 81,280 yen, Sony was off 1.17 percent at 9,141 yen, and
chip-testing equipment manufacturer Advantest was down 0.99 percent at 6,970
yen.
The dollar fetched 103.79 yen in early Asian trade, against 103.72 yen in
New York late Thursday.
Japan’s core consumer price index, which excludes fresh food, was down 0.7
percent year-on-year in October, according to data released by the internal
affairs ministry before the opening bell.
The figure was in line with market expectations.