Tokyo Stocks End Morning Session Down On Virus Worries

Sumaira FH Published February 27, 2020 | 08:40 AM

Tokyo, (UrduPoint / Pakistan Point News - 27th Feb, 2020 ) :Tokyo stocks ended the morning session lower on Thursday as investors closely follow headlines over the spreading new coronavirus outbreak.

The benchmark Nikkei 225 was down 1.79 percent, or 401.14 points, at 22,025.05 by the break, while the broader Topix index was down 1.91 percent, or 30.71 percent, at 1,575.46.

"Japanese shares are swinging from joy to sorrow by turns, reacting to news headlines linked to the new coronavirus," Okasan Online Securities strategist Yoshihiro Ito said in a commentary.

As Tokyo trade started, Donald Trump told a news conference the US was prepared to escalate its response to the outbreak on a "much larger scale" should it continue to spread.

The Dollar was under pressure in early Asian trade, fetching 110.31 Yen against 110.45 yen in New York late Wednesday.

The falls in Tokyo came as global stocks finished mixed, somewhat stabilising after two bruising sessions on worries about the spread of the coronavirus.

On Thursday, Japanese shares sensitive to economic conditions were broadly lower, with blue-chip exporters Toyota losing 1.63 percent to 7,417 yen and Sony down 2.89 percent at 6,948 yen.

Trading house Mitsubishi Corp. fell 1.57 percent to 2,750.5 yen, crude oil developer and distributor Inpex was off 2.92 percent at 961.3 yen, and Sumitomo Metal Mining tumbled 3.21 percent to 2,784.5 yen.