Tokyo stocks close lower on pandemic fears

TOKYO: Tokyo shares closed lower Wednesday on continued worries about coronavirus infections with investors also eyeing corporate earnings reports.

The Nikkei 225 index closed down 0.21 percent or 57.75 points at 27,584.08, while the broader Topix index slipped 0.50 percent or 9.71 points to end at 1,921.43. “Japanese shares are being weighed down by a rise in virus cases,” Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

“The Nikkei index has been volatile since much-awaited Toyota earnings were reported, as the firm kept its full-year forecasts unchanged despite brisk net profit in the first quarter,” he said. Toyota closed down 0.84 percent at 9,970 yen after it said net profit soared more than fivefold in the first quarter, but left its annual forecast unchanged citing “uncertainties” ahead.

Its smaller rivals were mixed, with Nissan ending up 0.43 percent at 620.1 yen while Honda slipped 0.67 percent to 3,547 yen.