Global Market News

Nikkei 225 Sinks 2.3% as Worries Over Worldwide COVID-19 Infections Flare-Up; Japanese Retail Sales Drop 12%


Last updated: 06/29/2020 06:07:33

06:07 AM EDT, 06/29/2020 (MT Newswires) -- The Nikkei 225 opened lower Monday on Wall Street cues and finished with a drop of 2.3% on concerns about mounting COVID-19 cases in the US, India and Brazil. In the US, some states such as California and Florida and other localities have re-instituted business restrictions to try again to blunt the spread of the virus.

Worldwide deaths from the novel coronavirus topped 500,000 on Sunday, according to data from Johns Hopkins University.

The Nikkei 225 fell 517.04 to 21,995.04, as losing issues outnumbered gainers 212 to 12.

On the downside were satellite-TV outfit Sky Perfect (SKPJY, 9412:Tokyo), off 7.8%, and camera and electronics maker Canon (CAJ, 7751:Tokyo), off 6.4%.

Leading the thin upside was food company Meiji (MEJHY, 2269:Tokyo), up 1.8%, followed by Sumitomo Osaka Cement (SUCEF, 5232:Tokyo), up 0.5%. Delivery service Yamato (YATRF, 9064:Tokyo), up 0.4%.

In economic news, Japan's trade ministry said retail sales in May fell 12.3% year-over-year, as business lockdowns and other restrictive measures due to COVID-19 led consumers to cut spending on cars, clothing, and on general merchandise.
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