Japan extends state of emergency, Transport stocks pull Tokyo shares lower

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On Monday, Japan decided to extend the nationwide emergency period, pulling down the transport stocks. The broader Topix index dropped by 0.32 % to 1,426.73. While air transport and land transport landed down with 6.8% and 2.9%, respectively.

In Japan, markets were closed from Monday through Wednesday for a string of national holidays. And on Thursday Japan Airlines and ANA Holdings lost 6.9% and 6.7% respectively as Warren Buffett had sold his entire stakes in the top four U.S. carriers.

According to Buffett, the coronavirus outbreak has changed the world for the aviation industry and as an impact of coronavirus pandemic, U.S. private employers laid off a record of 20.236 million workers in April.

Japan

U.S.-China tensions on coronavirus outbreak are pulling down the hope of economic revival.

Meanwhile, the blue-chip Nikkei average edged up 0.28% to 19,674.77, helped by gains in semiconductor-related stocks.

Chipmaking gear manufacturer Tokyo Electron Ltd and test device maker Advantest Corp rose by 3.2% and 3.3%, respectively.

Nintendo Co Ltd also joined the game and gained 3.3%.

However, the Nikkei’s heavyweight SoftBank Group Corp fell down 2.5% after WeWork co-founder Adam Neumann filed a lawsuit against the tech conglomerate and its Vision Fund for terminating a $3 billion tender offer to the office-sharing startup’s shareholders.

 

 

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Jyotika Kumari
Content Writer +Creative Writer +Social Media Manager so basically I get you Up 2 Date.