AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.06 Decreased By ▼ -0.47 (-0.36%)
BOP 6.75 Increased By ▲ 0.07 (1.05%)
CNERGY 4.49 Decreased By ▼ -0.14 (-3.02%)
DCL 8.55 Decreased By ▼ -0.39 (-4.36%)
DFML 40.82 Decreased By ▼ -0.87 (-2.09%)
DGKC 80.96 Decreased By ▼ -2.81 (-3.35%)
FCCL 32.77 No Change ▼ 0.00 (0%)
FFBL 74.43 Decreased By ▼ -1.04 (-1.38%)
FFL 11.74 Increased By ▲ 0.27 (2.35%)
HUBC 109.58 Decreased By ▼ -0.97 (-0.88%)
HUMNL 13.75 Decreased By ▼ -0.81 (-5.56%)
KEL 5.31 Decreased By ▼ -0.08 (-1.48%)
KOSM 7.72 Decreased By ▼ -0.68 (-8.1%)
MLCF 38.60 Decreased By ▼ -1.19 (-2.99%)
NBP 63.51 Increased By ▲ 3.22 (5.34%)
OGDC 194.69 Decreased By ▼ -4.97 (-2.49%)
PAEL 25.71 Decreased By ▼ -0.94 (-3.53%)
PIBTL 7.39 Decreased By ▼ -0.27 (-3.52%)
PPL 155.45 Decreased By ▼ -2.47 (-1.56%)
PRL 25.79 Decreased By ▼ -0.94 (-3.52%)
PTC 17.50 Decreased By ▼ -0.96 (-5.2%)
SEARL 78.65 Decreased By ▼ -3.79 (-4.6%)
TELE 7.86 Decreased By ▼ -0.45 (-5.42%)
TOMCL 33.73 Decreased By ▼ -0.78 (-2.26%)
TPLP 8.40 Decreased By ▼ -0.66 (-7.28%)
TREET 16.27 Decreased By ▼ -1.20 (-6.87%)
TRG 58.22 Decreased By ▼ -3.10 (-5.06%)
UNITY 27.49 Increased By ▲ 0.06 (0.22%)
WTL 1.39 Increased By ▲ 0.01 (0.72%)
BR100 10,445 Increased By 38.5 (0.37%)
BR30 31,189 Decreased By -523.9 (-1.65%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

TOKYO: Japanese shares sank on Monday, tracking Wall Street's sharp retreat after several US states imposed business restrictions to tackle a resurgence in new coronavirus cases.

The benchmark Nikkei average tumbled 2.3% to 21,995.04 points, its lowest close since June 15, with cyclical stocks leading the decliners.

The Nikkei also fell below a major support level of its 25-day moving average, which was last at 22,356, for the first time since April 7.

Wall Street's major indexes plunged on Friday as some US states reconsidered their reopening plans after the early lifting of restrictions was followed by a resurgence in new infections.

"Even though equity prices (in Japan) have risen significantly from the lows in March, we believe that a great deal of risk aversion still exists for many (foreign) investors," said Bill Maldonado, global chief investment officer for equities at HSBC Global Asset Management.

The broader Topix lost 1.8% to 1,549.22, also a two-week low, with all of the 33 sector sub-indexes on the Tokyo exchange finishing lower.

Tokyo-listed banks tracked US counterparts lower, with Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Financial Group (SMFG) falling 2.3% and 2.0%, respectively.

Elsewhere, shares of the Nikkei's heavyweight SoftBank Group shed 2.8%.

The tech conglomerate said it expects a gain of around 600 billion yen ($5.6 billion) in the April-June quarter on the sale of T-Mobile shares, but a derivative liability from call options received by T-Mobile's top shareholder, Deutsche Telekom, is not included in that figure.

Japan's retail sales in May fell 12.3% on year as coronavirus curbs continued to depress spending, data showed on Monday, but the bearish figures were not a focus for traders.

Comments

Comments are closed.