Nikkei drops to six-month low

Business | 20 Jul 2021 11:05 am

Japan's Nikkei share average plumbed a six-month low on Tuesday, following a broad sell-off on Wall Street as concerns grew that rising coronavirus disease infections globally could derail a nascent economic recovery.

The Nikkei share average was down by 0.41 percent at 27,537.96 by 0210 GMT, after hitting its lowest since January 7. The broader Topix fell by 0.5 percent at 1,897.63.

Japan's markets will be closed on Thursday and Friday for public holidays, with the Tokyo 2020 opening ceremony on Friday.

Among Nikkei heavyweights, global start-up investor SoftBank Group fell by 0.79 percent, while Fast Retailing, the owner of Uniqlo clothing stores, lost 0.47 percent and robot maker Fanuc shed 2.21 percent.

Of the 33 industry sub-indexes, only precision equipment makers and shippers gained.

The energy sector declined the most with a 3.34 percent drop on weak oil prices.


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