Tokyo stocks close lower

Tokyo stocks close lower

Monitoring Desk

TOKYO: Tokyo stocks closed lower on Friday amid concerns over a fresh record of daily coronavirus cases in the capital.

The benchmark Nikkei 225 index fell 1.06 percent or 238.48 points to end at 22,290.81. It inched down 0.07 percent over the week.

The broader Topix index dropped 1.42 percent or 22.04 points to 1,535.20. It lost 1.10 percent over the week. The number of COVID-19 cases hit a record at 243 in Tokyo, a day after the city reported 224 infections.

Tokyo Governor Yuriko Koike told reporters the increase was partly due to active testing in entertainment districts, where clusters were found, but added that “further caution is needed”.

“Investors are in wait-and-see mode ahead of the weekend,” Okasan Online Securities said in a commentary.

“They were cautious as the number of coronavirus cases is increasing.”

The dollar fetched 106.90 yen in Asian trade, against 107.17 yen in New York.

In Tokyo, Uniqlo casual wear operator Fast Retailing dropped 3.33 percent to 60,280 yen after it reported plunging profits and lowered its annual profit outlook.

The firm now expects annual net profit to August of 85 billion yen ($792 million), down from an earlier projection of 100 billion yen announced in April, and nearly a half of what it earned in the previous year, it said after market close Thursday.

Automakers were lower, with Nissan losing 2.26 percent to 374.8 yen and Toyota 2.10 percent to 6,568 yen.

Sony gained 1.39 percent to 7,780 yen. (AFP/APP)

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