Japanese Market Notably Lower

(RTTNews) - The Japanese stock market is notably lower on Monday following the negative cues from Wall Street Friday amid concerns about the rapid spread as well as the economic impact of the coronavirus outbreak that has infected more than 2,000 people globally and killed 80 people in China. Trading volumes were thin with several markets in the Asian region shut for the Lunar New Year holidays.

The benchmark Nikkei 225 Index is losing 401.69 points or 1.69 percent to 23,425.49, after falling to a low of 23,317.32 in early trades.

Market heavyweight SoftBank Group Corp. is losing almost 3 percent and Fast Retailing is lower by more than 3 percent.

Among tech stocks, Advantest is declining more than 2 percent and Tokyo Electron is down almost 2 percent.

The major exporters are lower on a stronger safe-haven yen. Panasonic is losing almost 2 percent, while Sony, Canon and Mitsubishi Electric are all declining more than 1 percent each.
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