05:59 AM EDT, 07/16/2020 (MT Newswires) -- The Nikkei 225 opened lower Thursday and slumped in trading, finishing down 0.8% as investors booked profits from recent gains, mulled a same-day 4.5% plunge in Shanghai's stock market and weighed a COVID-19 spike in Tokyo. The Tokyo Metropolitan Government reported 286 new virus cases on Thursday, a record daily high.
The Nikkei 225 fell 175.14 to 22,770.36, although gaining issues outnumbered losers 126 to 96,
Leading the upside on a mixed day were Nissan Motor (NSANY, 7201:Tokyo), up 6.1%, followed by airline ANA (ALNPY, 9292:Tokyo), up 5.7%, and then electrical-equipment maker Fujikura (5801:Tokyo), up 4.9% after a Mitsubishi UFJ Morgan Stanley Securities price target upgrade.
On the downside were the former Yahoo Japan, Z Holdings (YAHOY, 4687:Tokyo), off 4.5%, and then Chugai Pharmaceuticals (CHGCY, 4519:Tokyo), off 4.3%.
In economic news, Japan's economy will likely shrink 4.7% in the 12 months through March 2021, and inflation will post at 0.5%, due to COVID-19 lockdowns and the global recession, the Bank of Japan predicted on Wednesday.
Copyright © 2020 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.