Asian markets fall after overnight Wall Street retreat newzealandstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newzealandstar.com Daily Mail and Mail on Sunday newspapers.
Tokyo stocks open lower on virus worries
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TOKYO, April 21, 2021 (BSS/AFP) – Tokyo stocks opened lower on Wednesday following falls on Wall Street, as worries over a surge in virus infections at home and abroad weighed on the market.
The benchmark Nikkei 225 index was down 1.56 percent or 455.19 points at 28,645.19 in early trade, while the broader Topix index fell 1.47 percent or 28.23 points to 1,898.02.
“Japanese shares are seen lacking an upward drive on concerns over expansion of coronavirus infections that sent US shares down,” Okasan Online Securities said in a commentary.
“At home, the government is reportedly planning to declare a state of emergency in Tokyo, Osaka, and Hyogo (west of Osaka), flattening the hopes of an early economic recovery,” it added.
Stock retreat as Covid fears advance orlandoecho.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from orlandoecho.com Daily Mail and Mail on Sunday newspapers.
Asian Markets Fall After Overnight Wall Street Retreat
04/19/21 AT 11:22 PM
Tokyo led a sell-off in Asian markets on Tuesday after Wall Street pulled back from record levels in overnight trade and with Japan fearing a renewed Covid-19 surge.
Both the Dow and S&P finished last week at new peaks and also posted their fourth consecutive weekly gains, following on the heels of strong data for American housing starts, employment and retail sales.
But analysts said that a combination of dollar weakness and a lull in fresh data ahead of upcoming corporate results had conspired to tamp down enthusiasm. It seems like investors might be having a bit of a second thought up here as US earnings season starts to heat up and peak optimism is beginning to set in, said Stephen Innes of Axi.