Tokyo's Key Nikkei Index Opens Flat

(@FahadShabbir)

Tokyo's key Nikkei index opens flat

Tokyo, (UrduPoint / Pakistan Point News - 27th Nov, 2020 ) :Tokyo's key Nikkei index opened flat on Friday as rising numbers of coronavirus cases in Japan weighed on the market and with no fresh leads from Wall Street, which was closed for a holiday.

The benchmark Nikkei 225 index was down 0.01 percent or 2.90 points at 26,534.41 in early trade, while the broader Topix index was up 0.22 percent or 3.84 points at 1,782.09.

"With the US market closed for the Thanksgiving holiday, expansion in new coronavirus infection cases in Japan is seen weighing on the market," Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

Following recent rallies and ahead of the weekend, investors were taking to the sidelines and avoiding active trading, he added.

The Dollar fetched 104.25 Yen in early Asian trade against 104.27 yen in London late Thursday.

In Tokyo, automakers were lower with Toyota trading down 0.49 percent at 7,265 yen, Honda down 0.87 percent at 2,970 yen and Nissan off 1.82 percent at 518 yen.

Some other exporters were higher, with Sony trading up 0.45 percent at 9,798 yen and Hitachi up 0.62 percent at 4,088 yen.

Real estate firm Mitsui Fudosan was up 1.17 percent at 2,286 yen after a report it would make a tender offer of about 100 billion yen ($960 million) for Tokyo Dome Corp., helping the stadium operator push back against Hong Kong-based activist investor Oasis Management Co.