Japanese shares extend falls as coronavirus worries persist

AnGes

17/07/2020 08:27

TOKYO, July 17 (Reuters) - Japanese shares extended falls
into a second session on Friday as the relentless spread of the
coronavirus prompted some investor scepticism about a swift
economic recovery. 
    The benchmark Nikkei share average  .N225  ended 0.32% lower
at 22,696.42, with 50 advancers on the index against 170
decliners.
    The broader Topix  .TOPX  lost 0.33% at 1,573.85, with all
but seven of the 33 sector sub-indexes on the Tokyo exchange
trading in the red.
    Japanese stocks opened modestly higher, taking cues from
E-Mini futures for the S&P 500  EScv1 , which gained on COVID-19
vaccine and U.S. stimulus hopes. 
    The mood of risk aversion flared up in the afternoon session
after Tokyo posted another record daily high of COVID-19 cases
at 293 on Friday.  urn:newsml:reuters.com:*:nL3N2EO177
    Airline shares  .IAIRL.T  took a hit and fell 3.06% as the
Japanese government barred Tokyo residents from claiming a
travel subsidy aimed at reviving pandemic-hit domestic tourism
industry.  urn:newsml:reuters.com:*:nL2N2EO037
    ANA Holdings Inc  9232.T  slumped 3.64%, while Japan
Airlines Co Ltd  9201.T  dipped 2.34%.
    Other issues that led declines on the main bourse were real
estate  .IRLTY.T  and iron and steel  .ISTEL.T , falling 2.26%
and 2.07% respectively.
    Analysts said some investors closed positions ahead of the
forthcoming corporate earnings.
    Among gainers, semiconductor-related shares advanced after
Taiwan Semiconductor Manufacturing Co Ltd  2330.TW  posted a
record quarterly net profit jump of 81% and forecast a revenue
growth above 20% for this year.  urn:newsml:reuters.com:*:nL3N2EN1LD
    Screen Holdings Co Ltd  7735.T  gained 2.27%, while
Advantest Corp  6857.T  and Alps Alpine Co Ltd  6770.T  added
1.36% and 1.63%, respectively.
    The index of Mothers start-up market  .MTHR  slipped 1.59%
to 985.06, a level unseen since July 6, with biotech AnGes
 4563.T  falling 4.5%.

 (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu and
Shailesh Kuber)
 ((eimi.yamamitsu@thomsonreuters.com;))