Wed, 12 May 2021

Tokyo stocks close higher with eyes on virus cases

News24
15 Apr 2021, 22:13 GMT+10

  • Tokyo stocks closed slightly higher on Thursday in cautious trade as fears mount over rising coronavirus infections in Japan.
  • Tokyo recorded 729 new Covid-19 cases, reports said - the highest figure since early February.

  • In Tokyo trading, Toshiba advanced 0.72% to 4 895 yen as investors watched developments in potential buyout offers for the Japanese engineering giant.

Tokyo stocks closed slightly higher on Thursday in cautious trade as fears mount over rising coronavirus infections in Japan.

The benchmark Nikkei 225 index edged up 0.07% or 21.70 points to end at 29 642.69, while the broader Topix index rose 0.36% or 6.95 points to 1,959.13.

"A wait-and-see stance was seen throughout the afternoon session ahead of the earnings season," said Okasan Online Securities senior strategist Yoshihiro Ito.

Mizuho Securities also said investors were increasingly cautious with Japan's earnings season about to kick off.

Traders were also digesting comments about the Tokyo Olympics, according to Okasan, after a senior Japanese politician said the Games must be cancelled "without hesitation" if the virus situation is too severe.

Tokyo recorded 729 new Covid-19 cases on Thursday, reports said - the highest figure since early February.

Record numbers of daily cases have also been reported in Osaka in recent days, and the government has been forced to authorise new restrictions just weeks after lifting a virus state of emergency.

In Tokyo trading, Toshiba advanced 0.72% to 4 895 yen as investors watched developments in potential buyout offers for the Japanese engineering giant by foreign funds.

The firm's CEO stepped down on Wednesday after a first buyout offer stirred internal turmoil.

Automakers were higher with Toyota climbing 0.93% to 8 564 yen and its rival Honda growing 1.30% to 3 330 yen. Nissan jumped 1.39% to 582.3 yen.

SoftBank Group gained 1.90% to 10 150 yen while Sony Group was up 0.12% to 12 205 yen.

The dollar fetched 108.92 yen in Asian trade, against 108.94 yen in New York late Wednesday.

Source: News24

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