Tokyo Stocks Tumble On Fears Of COVID-19 Resurgence

Tokyo stocks fell moderately Wednesday as concerns remained over the ongoing resurgence in COVID-19 infections and some investors were disappointed with an earnings forecast left unchanged by Toyota Motor Corp., Mainichi Japan reported.

Photo Insert: The trading floor of the Tokyo Stock Exchange

The 225-issue Nikkei Stock Average ended down 57.75 points, or 0.21 percent, from Tuesday at 27,584.08. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 9.71 points, or 0.50 percent, lower at 1,921.43.

The US dollar remained weak around the 109 yen line throughout the day as traders grew cautious about a possible narrowing of the US-Japanese interest rate gap following an overnight fall in US Treasury yields, dealers said.

At 5 p.m., the dollar fetched 109.10-12 yen compared with 108.98-109.08 yen in New York and 109.21-23 yen in Tokyo at 5 p.m. Tuesday.

The euro was quoted at $1.1877-1878 and 129.58-62 yen against $1.1859-1869 and 129.34-44 yen in New York and $1.1877-1879 and 129.71-75 yen in Tokyo late Tuesday afternoon.

The 10-year Japanese government bond yield fell 0.015 percentage point from Monday's close to an eight-month low of 0.000 percent following lower US yields overnight. The bellwether Japanese bond was untraded Tuesday.

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