TOKYO: Japanese shares reversed course to settle lower on Monday, as worries over the slow pace of the domestic vaccination drive overwhelmed a boost from solid gains in Wall Street shares.
The Nikkei share average fell 0.92% to close at 27,824.83, after rising 0.8% earlier in the session, while the broader Topix edged down 0.24% to 1,878.86.
Disappointment over earnings and forecasts also weighed on some shares. Honda Motor fell 2.68%, as the automaker warned semiconductor shortages and higher raw material costs would curb growth in the current year.
Fujikura dropped 15.4% and was the biggest decliner among Nikkei constituents after the maker of cables and other non-ferrous metal products posted downbeat earnings results. Seven & i Holdings fell 3.1% after US officials raised competitive concerns over the Japanese retailer’s acquisition of 3,900 Speedway gas and convenience stores from Marathon Petroleum Corp.
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