TOKYO: Japanese shares fell on Wednesday for the third consecutive session, pulled down by worries that surging coronavirus cases in Europe and the United States could further damage an already-battered global economy.
Also, trading was subdued as the upcoming US presidential elections kept many investors on the sidelines, analysts said.
The benchmark Nikkei share average fell 0.29% to close at 23,418.51, while the broader Topix lost 0.31% to 1,612.55.
All but six of the 33 sector sub-indexes on the Tokyo exchange traded lower, with miners, iron and steel and insurers leading declines.
Japan’s index of insurers, who rely on foreign bonds for income, dipped more than 2.8% after US Treasury yields declined overnight on dwindling hopes for a US stimulus deal.
Dai-ichi Life Holdings fell 2.7% and T&D Holdings dropped 2.8%, while Tokio Marine Holdings slipped around 3.5%.
Shares of ANA Holdings closed 0.35% higher, after rising as much as 4%, after the airline operator on Tuesday unveiled its restructuring plans and forecast a record operating loss of 505 billion yen for the year to March.
Furniture retailer Otsuka Kagu Ltd jumped 33.1% to hit its daily limit after the company said its president would be stepping down.—Reuters
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