Japanese Market Extends Losses

(RTTNews) - The Japanese stock market is lower for a third straight day on Friday despite the positive cues overnight from Wall Street.

Investors remained cautious after daily coronavirus cases in Japan hit another record high on Thursday and prompted the Tokyo Metropolitan Government to raise its virus alert status to its fourth and highest level. Data showing that the manufacturing sector in Japan continued to contract in November also dampened sentiment.

The benchmark Nikkei 225 Index is down 88.61 points or 0.35 percent to 25,545.73, after touching a low of 25,445.65 earlier. Japanese shares closed lower on Thursday.

Market heavyweight SoftBank Group is rising more than 2 percent, while Fast Retailing is lower by almost 2 percent. In the tech space, Tokyo Electron is advancing almost 1 percent, while Advantest is lower by almost 2 percent.

The major exporters are also mixed. Sony is declining more than 1 percent and Panasonic is down almost 1 percent, while Canon and Mitsubishi Electric are adding 0.3 percent each.
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