TOKYO, Feb 27 ― Tokyo stocks ended the morning session lower today as investors closely follow headlines over the spreading new coronavirus outbreak.
The benchmark Nikkei 225 was down 1.79 per cent, or 401.14 points, at 22,025.05 by the break, while the broader Topix index was down 1.91 per cent, or 30.71 per cent, at 1,575.46.
“Japanese shares are swinging from joy to sorrow by turns, reacting to news headlines linked to the new coronavirus,” Okasan Online Securities strategist Yoshihiro Ito said in a commentary.
As Tokyo trade started, Donald Trump told a news conference the US was prepared to escalate its response to the outbreak on a “much larger scale” should it continue to spread.
The dollar was under pressure in early Asian trade, fetching ¥110.31 (RM4.21) against ¥110.45 in New York late yesterday.
The falls in Tokyo came as global stocks finished mixed, somewhat stabilising after two bruising sessions on worries about the spread of the coronavirus.
On Thursday, Japanese shares sensitive to economic conditions were broadly lower, with blue-chip exporters Toyota losing 1.63 per cent to ¥7,417 and Sony down 2.89 per cent at ¥6,948.
Trading house Mitsubishi Corp. fell 1.57 per cent to ¥2,750.5, crude oil developer and distributor Inpex was off 2.92 per cent at ¥961.3, and Sumitomo Metal Mining tumbled 3.21 per cent to ¥2,784.5. ― AFP
