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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002


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Japan stocks fall as risks on several fronts unsettle investors

10/15/2020 | 02:31am EST

TOKYO, Oct 15 (Reuters) - Japanese stocks fell on Thursday as fading hopes for a new round of U.S. fiscal stimulus, a return of coronavirus lockdowns in Europe and worries about Sino-U.S. tensions hurt sentiment.

The Nikkei index ended 0.51% lower at 23,507.23, with the healthcare and telecommunications sectors leading the decline. The broader Topix fell 0.74% to 1,631.79.

U.S. Treasury Secretary Steve Mnuchin said reaching a compromise with the Democrats on a fiscal stimulus was unlikely before the Nov. 3 election, raising concerns about the economic outlook for an economy reeling from the impact of the COVID-19 pandemic.

Sentiment also worsened after sources told Reuters the U.S. State Department has submitted a proposal for President Donald Trump administration to add China's Ant Group to a trade blacklist, which could complicate its highly-anticipated initial public offering.

Britain has introduced a new lockdown system, France imposed curfews and other European nations were closing schools to stop a second wave of the novel coronavirus.

"We believe the momentum underlying the current recovery will slow down gradually," Soichiro Matsumoto, chief investment officer for Japan at Credit Suisse, wrote in a memo.

"The first factor is a potential tightening of restrictions on economic activity due to a second wave of COVID-19 infections. Another factor is increasingly enervated fiscal policy."

The biggest underperformers among the top 30 core Topix names were venture capitalist SoftBank Group Corp, down 2.08%, followed by drugs maker Takeda Pharmaceutical Co Ltd losing 1.97%.

The stocks that gained the most among Topix 30 were electronic parts maker Murata Manufacturing Co Ltd, up 1%, followed by industrial conglomerate Mitsubishi Corp gaining 0.42%.

There were 64 advancers on the Nikkei index against 156 decliners.

The volume of shares traded on the Tokyo Stock Exchange's main board was 0.89 billion, compared with the average of 1.11 billion in the past 30 days. (Reporting by Stanley White; Editing by Aditya Soni and Krishna Chandra Eluri)

© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AGC INC. 0.56% 3590 End-of-day quote.-8.65%
ASAHI GROUP HOLDINGS, LTD. 4.29% 4550 End-of-day quote.-8.69%
CREDIT SUISSE GROUP AG 1.07% 11.77 Delayed Quote.-11.03%
DAI NIPPON PRINTING CO., LTD. -1.13% 1926 End-of-day quote.-34.93%
KEYENCE CORPORATION -1.95% 52300 End-of-day quote.35.88%
MITSUBISHI CORPORATION -0.18% 2508 End-of-day quote.-13.52%
MITSUI CHEMICALS, INC. -3.21% 2928 End-of-day quote.9.25%
MURATA MANUFACTURING CO., LTD. -0.96% 8978 End-of-day quote.33.09%
NIKKEI 225 -0.22% 26751.24 Real-time Quote.13.33%
RAKUTEN, INC. -7.31% 1040 End-of-day quote.11.23%
SOFTBANK GROUP CORP. -1.64% 7260 End-of-day quote.52.65%
TAKEDA PHARMACEUTICAL COMPANY LIMITED 1.54% 3899 End-of-day quote.-10.00%
TOKIO MARINE HOLDINGS, INC. 0.95% 5341 End-of-day quote.-12.71%
Z HOLDINGS CORPORATION -2.60% 628.5 End-of-day quote.36.33%
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