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Nikkei 225 Down 0.4% on Renewed Pandemic Concerns

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Last updated: 11/20/2020 05:04:36

05:04 AM EST, 11/20/2020 (MT Newswires) -- The Nikkei 225 finished lower by 0.4% Friday, as traders mulled a spike in COVID-19 cases in Japan, and multiplying lockdowns and business restrictions across Europe and the US. In California, Governor Gavin Newsome on Thursday ordered a 10 pm curfew in some counties to stem the pandemic, while in Japan record-high daily infection rates were reported in the city of Osaka and in the northern island of Hokkaido on Friday. In Tokyo, daily new virus cases topped 500, for the second day in succession.

The Nikkei 225 fell 106.97 to 25,527.37, as losing issues outnumbered gainers 118 to 101.

Leading the upside were automaker Isuzu (ISUZY, 7202:Tokyo), up 4.9%, followed by e-commerce outfit Rakuten (RKUNY, 4755:Tokyo), up 3.6%, and then industrial robot-maker Fujikura Electric (5803:Tokyo), up 3.3%.

On the downside were insurer MS&AD (MSADY, 8735:Tokyo), off 4.4%, and then medical-device maker Terumo (TRUMF, 4543:Tokyo), off 4.2%.

The Nikkei 225 is up 7.9% year-to-date.

In economic news, the au Jibun Bank flash Composite Purchasing Manager's Index (PMI) fell to 47.0 in November from 48.0 in October, with readings below 50 indicating economic contraction.

Japan's CPI for October posted down 0.4% year-over-year, reported the Statistics Bureau of Japan. The October core CPI, which excludes food prices, fell 0.7% in the period, raising concerns Japan was again slipping into deflation.

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