Japanese shares weaken

17 Jul, 2020

TOKYO: Japanese shares ended lower on Thursday as worries over a surge of domestic coronavirus cases dampened hopes for a swift economic recovery.

The benchmark Nikkei shares average closed 0.76% lower at 22,770.36, retreating from a five-week high hit in the previous session. There were 126 advancers against 95 decliners in the index.

Pharmaceutical, electronic and gas and info and telecom were the three worst performers on the main bourse.

Semiconductor issues underperformed, with Screen Holdings Co Ltd dropping 4.17%, while Advantest Corp and Tokyo Electron Ltd eased 2.68% and 2.55%, respectively.

Among gainers, Japan Exchange Group Inc jumped 6.51% after Nikkei Inc said it would add the stock to the Nikkei average from July 29, replacing Sony Financial Holdings Inc.

The broader Topix lost 0.66% to 1,579.06, with nearly half of the 33 sector sub-indexes on the Tokyo exchange trading lower.

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