Japan stock market finished session steep lower on Friday, 30 July 2021, giving up all the gains in the previous session, as risk aversion selloff triggered across the board amid deepening uncertainty over Japan's economic rebound following nationwide COVID-19 infection cases reached 10,693 on Thursday. Meanwhile, sentiments also weighed down by government plans to expand the COVID-19 state of emergency to four more prefectures struggling to contain the virus. At closing bell, the 225-issue Nikkei Stock Average tumbled 498.83 points, or 1.8%, to 27,283.59. The broader Topix index of all First Section issues on the Tokyo Stock Exchange retreated 26.35 points, or 1.37%, to 1,901.08.
Trading volume turnover in the 1st section increased to 1,236 million shares from 1,169 million shares in previous session. Trading value turnover increased to 2,846.93 billion yen from 2,579.05 billion yen in previous session.
Total 31 of 33 sectors sub-indexes on the Tokyo exchange ended lower, with bottom performing sectors were Pharmaceutical (down 3.2%, Other Products (down 2.6%), Information & Communication (down 2.1%), Other Financial Business (down 1.9%), Construction (down 1.8%), Glass & Ceramics Products (down 1.6%), Services (down 1.6%), Fishery, Agriculture & Forestry (down 1.5%), and Electric Power & Gas (down 1.4%) sectors.
Tokyo stocks commenced trading with a back-foot on cautious over recent record COVID-19 infections and remained in negative territory throughout the day, as COVID-19 cases nationwide reached 10,693 on Thursday and Tokyo confirmed 3,865 infection cases the same day, marking an all-time high for the third straight day.
Meanwhile, sentiments weighed down by government plans to expand the COVID-19 state of emergency to four more prefectures struggling to contain the virus. Government expected to expand a virus state of emergency from Tokyo and the southern Okinawa region to several other areas, and extend the measures to the end of August.
Shares of Airlines were lower as recent surge in coronavirus cases has amplified concerns about potential restrictions in movement, with ANA Holdings and Japan Airlines both finishing nearly 1% lower.
Shares of Fujiya closed higher, after the confectionary company revised upward its earnings projection for the business year through December.
Omron shares advanced after the electronics company reported strong earnings for the April-June quarter, with its operating profit more than doubling from a year earlier.
ECONOMIC NEWS: Japan Industrial Production Advances 6.2% On Month In June- Japan industrial output advanced a seasonally adjusted 6.2% on month in June, the Ministry of Economy, Trade and Industry said on Friday, following the downwardly revised 6.5% contraction in May, originally -5.9%. On a yearly basis, industrial production spiked 22.6% following the 21.1% gain in the previous month. Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.
Japan Retail Sales Up 3.1% On Month In June- Japan total value of retail sales was up a seasonally adjusted 3.1% on month in June, the Ministry of Economy, Trade and Industry said on Friday, following the upwardly revised 0.3% contraction in May. On a yearly basis, retail sales rose 0.1% following the upwardly revised 8.3% gain in the previous month.
CURRENCY NEWS: The Japanese yen traded at 109.57 per dollar, strengthening slightly from levels above 109.9 earlier in the week.
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