Home ›› 27 Nov 2021 ›› Stock
Tokyo stocks ended sharply lower on Friday, falling over three percent at one point, as news of a new Covid-19 variant spooked investors and strengthened the safe haven yen.
The benchmark Nikkei 225 index managed to trim losses in late trade and ended down 2.53 percent or 747.66 points to 28,751.62. The broader Topix index slipped 2.01 percent or 40.71 points to 1,984.98.
“It appears to be worries over the variant of the coronavirus strain first discovered in South Africa that is weighing on the market,” said Ryuta Otsuka, senior strategist at Toyo Securities.
“As trading volume is thin, the declines are significant, with hedge funds and others selling,” he told AFP.
“There doesn’t seem to be enough energy to buck the downward trend.”
Investors feared that the latest plunge might trigger a global market rout that may continue next week, Okasan Online Securities said in a note.
“Investors strongly fear that possible falls of US shares tonight might lead to sales of Tokyo shares next week,” the brokerage said.
