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    N225   JP9010C00002

NIKKEI 225

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Japanese shares slump on virus worries, mixed earnings

10/29/2020 | 09:38pm EDT

TOKYO, Oct 30 (Reuters) - Japanese shares fell on Friday and were set for their biggest weekly loss in more than two months as mixed earnings, rising coronavirus cases and uncertainty over the U.S. presidential election hurt sentiment.

The Nikkei 225 Index was down 0.72% at 23,164.68 by 0202 GMT. The index has declined 1.58% this week, on course for its biggest weekly loss since Aug. 21.

The broader Topix was down 1.25% at 1,590.92 on Friday.

A surge in coronavirus cases in Europe and the United States has rattled investor confidence this week, with France and Germany reinstating lockdowns - a move that has raised concerns over the global economic recovery.

The growing risk of an inconclusive result to the Nov. 3 U.S. election has also prompted investors to reduce long positions in equities, analysts say.

Leading the losses on the Nikkei, Kyocera Corp fell 8.38%, followed by Omron Corp losing 5.5%, and Daiwa Securities Group Inc down by 4.78%.

Makers of electronic parts Kyocera and Omron both fell after their earnings, announced after market close on Thursday, disappointed some investors.

Conversely, the largest percentage gainers were Seiko Epson Corp up 9.67%, followed by Advantest Corp gaining 8.7%, and Panasonic Corp up by 5.51%.% after they reported improving margins.

Panasonic got another boost after saying it will develop a new battery for electronic-car maker Tesla Inc.

There were 39 advancers on the Nikkei index against 181 decliners.

The volume of shares traded on the Tokyo Stock Exchange's main board was 0.46 billion, compared with the average of 1.05 billion in the past 30 days. (Reporting by Stanley White; Editing by Aditya Soni)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION -0.19% 10280 End-of-day quote.32.99%
ASTELLAS PHARMA INC. 0.36% 1951.5 End-of-day quote.22.43%
DAIICHI SANKYO COMPANY, LIMITED -0.73% 2601 End-of-day quote.-26.42%
DAIWA SECURITIES GROUP INC. 0.86% 643.5 End-of-day quote.36.91%
FANUC CORPORATION 0.68% 27350 End-of-day quote.7.85%
KONICA MINOLTA, INC. -0.62% 638 End-of-day quote.61.93%
KYOCERA CORPORATION -0.17% 7132 End-of-day quote.12.74%
NIKKEI 225 -0.51% 29291.01 Real-time Quote.7.28%
OKI ELECTRIC INDUSTRY CO., LTD. -1.36% 1014 End-of-day quote.11.31%
OMRON CORPORATION 0.23% 8570 End-of-day quote.-6.85%
PANASONIC CORPORATION -0.71% 1257.5 End-of-day quote.5.63%
SEIKO EPSON CORPORATION -1.11% 2054 End-of-day quote.34.16%
TAKEDA PHARMACEUTICAL COMPANY LIMITED -0.05% 3798 End-of-day quote.1.15%
TESLA, INC. 1.29% 607.27 Delayed Quote.-15.07%
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