Tokyo stocks fell Friday morning on concerns over earnings in Japan and the United States due to business disruptions caused by the coronavirus pandemic.

The 225-issue Nikkei Stock Average shed 157.02 points, or 0.81 percent, from Thursday to 19,272.42. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 8.77 points, or 0.62 percent, at 1,417.21.

Sentiment deteriorated after some major Japanese electronics firms revised downward their profit forecasts or postponed the announcement of results, while semiconductor-related issues fell on Intel Corp.'s weaker-than-expected earnings outlook for the second quarter and its failure to provide a full-year guidance due to the virus spread.

Other decliners included air transportation, securities house and iron and steel issues.

In currency trading, the U.S. dollar hovered in the upper 107 yen range. At noon, the dollar fetched 107.67-71 yen compared with 107.57-67 yen in New York and 107.63-65 yen in Tokyo at 5 p.m. Thursday.

The euro was quoted at $1.0771-0771 and 115.98-99 yen against $1.0772-0782 and 115.94-116.04 yen in New York, where the common currency briefly sank to a three-year low of 115.64 yen, and $1.0795-0796 and 116.19-23 yen in Tokyo late Thursday afternoon.

"Major companies such as Canon were sold on sluggish earnings, but what had a bigger impact on the market was Intel's uncertain outlook that clouded the prospects of the whole semiconductor industry," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities Co.

On the First Section, declining issues outnumbered advancers 1,504 to 573, while 92 ended the morning unchanged.

Canon sank 59.50 yen, or 2.8 percent, to 2,085.50 yen after it reported a 30 percent drop in its first quarter to March net profit while withdrawing its full-year earnings outlook due to the economic uncertainty caused by the coronavirus pandemic.

Among semiconductor issues, Tokyo Electron fell 420 yen, or 1.9 percent, to 21,580 yen, Advantest shed 105 yen, or 2.1 percent, to 4,880 yen and Shin-Etsu Chemical slipped 250 yen, or 2.1 percent, to 11,385 yen.

==Kyodo

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