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Tokyo’s Nikkei closes down for third straight session

Pedestrians wearing face masks walk past an electronic board displaying the closing numbers of Nikkei 225 index in Tokyo,Nov. 9, 2020. (AFP)
Pedestrians wearing face masks walk past an electronic board displaying the closing numbers of Nikkei 225 index in Tokyo,Nov. 9, 2020. (AFP)
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08 Dec 2020 05:12:30 GMT9
08 Dec 2020 05:12:30 GMT9

Tokyo’s benchmark Nikkei index fell for a third consecutive session on Tuesday, tracking falls on Wall Street as investors monitored prospects for additional US stimulus spending.

The Nikkei 225 index lost 0.30 percent, or 80.36 points, to close at 26,467.08, while the broader Topix index fell 0.11 percent, or 1.94 points to 1,758.81.

“A wait-and-see attitude is growing among investors with Brexit talks at an important stage” and ahead of the European Central Bank and Fed meetings, Okasan Online Securities said.

Japan’s Prime Minister Yoshihide Suga on Tuesday unveiled a fresh stimulus package worth more than $700 billion in a bid to boost the economy, which is showing signs of recovery from the coronavirus pandemic.

“Investors were not reacting to the announcement in a positive manner today but expectations from the package are not so small,” Yoshihiro Okumura, general manager at Chibagin Asset Management, told AFP.

The dollar fetched 104.04 yen in Asian afternoon trade, against 104.03 yen in New York late Monday.

Honda dropped 1.12 percent to 3,083 yen with Toyota down 0.06 percent at 7,199 yen, but Sony gained 0.29 percent to 9,704 yen and Nintendo jumped 1.07 percent to 58,390 yen.

AFP

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