Tokyo stocks close down on virus worries, higher yen

TOKYO: Tokyo stocks closed lower on Thursday as fears of a second wave of coronavirus infections and a stronger yen weighed on the market.

The benchmark Nikkei 225 index fell 0.45 percent, or 100.30 points, to 22,355.46, while the broader Topix index slipped 0.25 percent, or 4.00 points, to 1,583.09.

"It hard to buy shares as concerns over a second wave of the coronavirus outbreak are growing globally," said Toshikazu Horiuchi, a broker at IwaiCosmo Securities.

In New York, the Dow and S&P 500 both fell Wednesday as markets monitored increased coronavirus cases amid worries that US stocks are overvalued.

A stronger yen against the dollar also discouraged investors from buying shares, brokers said.

"The current level of the yen is still acceptable but a further gain would be a problem," Horiuchi told AFP.

The dollar fetched 106.89 yen in Asian afternoon trade, against 106.97 yen in New York and 107.28 yen in Tokyo late Wednesday.

In Tokyo, automakers were among losers, with Toyota down 0.82 percent at 6,887 yen and Nissan down 1.72 percent at 422.7 yen.

Suzuki plunged 2.23 percent to 3,667 yen after it announced plans to recall some 970,000 minicars due to defective parts.

Airlines were also lower, with Japan Airlines dropping 2.75 percent to 2,084 yen and ANA Holdings dipping 0.88 percent to 2,620 yen.

Nintendo jumped 2.81 percent at 50,110 yen after it and group firm Pokemon Co. announced several new games and apps in the critter-collecting Pokemon series.