Nikkei Slips as Rising COVID19 Infections Sap Risk Appetite


TOKYO, Dec 15 Reuters Japanese shares dipped on Tuesday as rising COVID19 infections sapped investors appetite for risk assets and forced the government to suspend its domestic tourism promotion campaign, hitting leisure stocks.

The Nikkei share average dropped 0.31 to 26,648.83, still stuck in its familiar range over the past few weeks. The broader Topix lost 0.48 to 1,781.87.

Concerns about increasing COVID19 infections and lockdowns around the world overshadowed optimism over the rollout of coronavirus vaccinations.

Tourismrelated shares took a hit after Japanese Prime Minister Yoshihide Suga said the travel subsidy programme dubbed Go To Travel would be suspended nationwide around the New Year to contain mounting COVID19 cases.

ANA Holdings lost 6.9 after investors flipped some of its newly issued stocks while rival JAL lost 3.1.

On the other hand, Nintendo led gamerelated shares higher as the worsening domestic outbreak is seen as boosting demand for game products.

Capcom rose 1.4 while GungHo Online Entertainment addde 1.6. Gree gained 3.2 and Koei Tecmo added 1.6.

Clean energy is becoming another hot theme, with Kawasaki Heavy rising 5.8, extending gains on its announcement earlier in the week that it has signed a memorandum of understanding MoU with Australian miner Fortescue Metals Group Ltd FMG.AX to develop a supply chain of green hydrogen.

Nippon Kinzoku rose by daily limit of 28 on speculation of surge in demand for its product for injection needles…

Dollar Falls as Vaccine Progress Boosts Risk Appetite

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