Japan share market finished volatile session marginally lower on Tuesday, 12 May 2020, as buying on expectations for an economic restart was overshadowed by selling amid fear of a second wave of coronavirus contagions. At closing bell, the 225-issue Nikkei Stock Average declined 24.18 points, or 0.12%, to 20,366.48. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 3.90 points, or 0.26%, at 1,476.72.
Total 20 issues of 33 industry category of Topix index settled in negative territory, with Marine Transportation, Rubber Products, Air Transportation, Real Estate, Transportation Equipment, Pulp & Paper, and Iron & Steel issues being notable losers, while Electric Power & Gas, Pharmaceutical, and Information & Communication issues were notable gainers.
The Tokyo market experienced a volatile session that opted for losses, as optimism about moves by Japan and some other countries toward the gradual reopening of their economies was overshadowed by the risk of a second wave of coronavirus infections after an increase in new infection cases in countries that have loosened business restrictions, such as China, South Korea and Germany.
Isetan Mitsukoshi Holdings slumped after department store operator reported a net loss for the business year ended in March, citing effects of the coronavirus pandemic and Japan's consumption tax hike in October. Fellow department store operators also struggled, with Marui Group and Takashimaya ended lower.
ECONOMIC NEWS:- Japan Leading Index Lowest Since Mid-2009 In March-- Japan's leading index, which measures the future economic activity, fell to 83.8 in March from 91.9 in February, preliminary data from the Cabinet Office showed on Tuesday.
The latest reading was the lowest since June 2009, when the score was 83.3. The coincident index that reflects the current economic activity declined to 90.5 in March from 95.4 in the previous month. Meanwhile, the lagging index increased to 101.7 in April from 100.9 in the prior month.
CURRENCY: The U. S. dollar index, which tracks the greenback against a basket of its peers, was at 100.14 after rising from levels below 100 seen yesterday. The Japanese yen traded at 107.57 per dollar after seeing an earlier low of 107.69.
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