TOKYO, Dec 3 (Reuters) - Japan's Nikkei share average slid
on Friday, dragged down by declines in SoftBank Group and other
heavyweights, as investors assessed the impact of the new
Omicron coronavirus variant.
The Nikkei share average lost 0.22% to 27,693.34 by
the midday break, after rising as much as 0.3%. The index is set
for a 3.6% weekly drop.
The broader Topix gained 0.55% to 1,937.06 and is on
course to lose 2.4% for the week.
"Some investors are bullish on the market outlook after
sharp declines, while others still remained sceptical and tried
to figure out whether the Omicron variant could be contained by
vaccines or spread further," said Shigetoshi Kamada, general
manager at the research department at Tachibana Securities.
"Nikkei's heavyweights were being sold, particularly
SoftBank Group. That explains why the Topix is up and the Nikkei
SoftBank Group, which has a stake in Grab, slid
2.75% after the ride-hailing and delivery firm tumbled more than
20% in its Nasdaq debut on Thursday.
Chinese ride-hailing giant Didi Global, in which
SoftBank Group invests, will delist from the New York stock
exchange and pursue a listing in Hong Kong.
Fast Retailing, owner of the Uniqlo brand of
clothing stores, fell 1.28% after the company's domestic same
store sales fell for a fourth straight month in November.
Chip making equipment maker Tokyo Electron lost
Shares that were battered by concerns over the resurgence of
the new coronavirus variant gained, with airlines and
railways rising 3.53% and 2.15%, respectively.
Travel agency H.I.S gained 5.44% and KNT-CT
Holdings jumped 7.31%.
(Editing by Rashmi Aich)