ANL 24.50 Increased By ▲ 0.31 (1.28%)
ASC 15.12 Decreased By ▼ -0.08 (-0.53%)
ASL 22.15 Increased By ▲ 0.15 (0.68%)
BOP 8.39 Decreased By ▼ -0.03 (-0.36%)
BYCO 8.52 Increased By ▲ 0.06 (0.71%)
FCCL 17.49 Increased By ▲ 0.09 (0.52%)
FFBL 24.50 Increased By ▲ 0.28 (1.16%)
FFL 16.75 Decreased By ▼ -0.15 (-0.89%)
FNEL 8.05 Decreased By ▼ -0.10 (-1.23%)
GGGL 20.60 Decreased By ▼ -0.09 (-0.43%)
GGL 41.85 Increased By ▲ 0.32 (0.77%)
HUMNL 6.64 Increased By ▲ 0.09 (1.37%)
JSCL 20.25 Increased By ▲ 0.12 (0.6%)
KAPCO 37.30 Decreased By ▼ -0.20 (-0.53%)
KEL 3.49 Decreased By ▼ -0.02 (-0.57%)
MDTL 2.85 Decreased By ▼ -0.10 (-3.39%)
MLCF 35.00 Decreased By ▼ -0.05 (-0.14%)
NETSOL 146.61 Increased By ▲ 1.76 (1.22%)
PACE 5.50 Decreased By ▼ -0.47 (-7.87%)
PAEL 30.01 Decreased By ▼ -0.08 (-0.27%)
PIBTL 9.10 Decreased By ▼ -0.07 (-0.76%)
POWER 7.65 Increased By ▲ 0.05 (0.66%)
PRL 19.21 Decreased By ▼ -0.04 (-0.21%)
PTC 10.04 Decreased By ▼ -0.08 (-0.79%)
SILK 1.58 Decreased By ▼ -0.04 (-2.47%)
SNGP 44.35 Increased By ▲ 0.85 (1.95%)
TELE 21.81 Decreased By ▼ -0.19 (-0.86%)
TRG 173.13 Increased By ▲ 2.63 (1.54%)
UNITY 33.44 Decreased By ▼ -0.50 (-1.47%)
WTL 3.05 Decreased By ▼ -0.04 (-1.29%)
BR100 4,859 Increased By ▲ 1.18 (0.02%)
BR30 23,943 Increased By ▲ 77.22 (0.32%)
KSE100 45,801 Decreased By ▼ -207.83 (-0.45%)
KSE30 18,077 Decreased By ▼ -101.63 (-0.56%)

Coronavirus
VERY HIGH Source: covid.gov.pk
Pakistan Deaths
27,374
4724hr
Pakistan Cases
1,230,238
2,33324hr
4.56% positivity
Sindh
452,267
Punjab
424,701
Balochistan
32,796
Islamabad
104,472
KPK
171,874
Markets

Tokyo shares open lower after Wall Street slip

  • The Dow lost 2.1 percent, while the Nasdaq gave up 1.1 percent
20 Jul 2021

TOKYO: Tokyo stocks opened lower on Tuesday following losses overnight on Wall Street sparked by renewed coronavirus fears as Japan prepares for the opening of the Olympics.

The benchmark Nikkei 225 index dropped 0.87 percent, or 241.56 points, to 27,411.18 in early trade. The broader Topix index lost 0.90 percent, or 17.23 points, to 1,889.90.

The Tokyo market's dip came after global shares dropped as investors fretted about the further spread of the virus and the economic impact of the pandemic.

The Dow lost 2.1 percent, while the Nasdaq gave up 1.1 percent.

Tokyo stocks close down for third straight session

The dollar stood at 109.54 yen, slightly higher from 109.46 yen on Monday in New York.

"After falls of US shares overnight, today's Tokyo market seems to have no choice except to go south," Okasan Online Securities said in a commentary.

Tokyo investors are shying away from making major bets this week, ahead of a four-day weekend from Thursday, with the Tokyo Olympics starting from Friday.

Market participants are also starting to voice a wide range of worries about Tokyo shares going forward, including political uncertainty after the Olympics.

The unclear economic outlook was also weighing on manufacturers' shares.

After the Olympics, the ruling Liberal Democratic Party will hold a leadership election, with public support for Prime Minister Yoshihide Suga low and still falling.

While there is no clear rival candidate to Suga, the outlook of the leadership race is less certain than before with LDP lawmakers jittery about Suga's sagging popularity ahead of a national election scheduled after the Olympics.

"The current situation is not conducive to encouraging bargain-hunting," Okasan said.

Among major shares, Olympic sponsor Toyota fell 1.21 percent to 9,622 after the automaker said it would not air Olympic-related television ads in the domestic Japanese market, where support for the Games remains low.

Sony fell 2.24 percent to 10,685 yen. Uniqlo operator Fast Retailing fell 0.82 percent to 76,030 yen.

High-tech investor SoftBank Group fell 1.47 percent to 7,234 yen. Nintendo lost 1.35 percent to 60,460 yen.

Comments

Comments are closed.