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The Stock Exchange in Japan Closed Slightly Lower on Tuesday

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The stock exchange in Japan closed slightly lower on Tuesday. Most other stock markets in the Asian region also went down.

 

Investors remained cautious about concerns about a new corona wave as a result of the relaxation of lockdown measures in many countries. Reports of renewed trade tensions between China and the United States have also been reluctant.

Beijing reportedly wants to renegotiate the previously concluded trade deal with Washington, but US President Donald Trump is not comfortable with that.

The leading Nikkei in Tokyo finished 0.1 percent in the minus at 20,366.48 points. The day before, the main index reached its highest level in two months.

The statements by the governor of the Japanese central bank Haruhiko Kuroda, who said he will do everything to alleviate the economic pain of the corona crisis, offered some support to trade. Price gains among the Japanese chip companies also limited the loss of the index.

Toyota fell 2 percent. The Japanese automaker is hit hard by the corona crisis and expects an operating profit drop of 80 percent in the current fiscal year, which runs until March 2021. That is the worst result in nine years.

The Japanese beer brewer Asahi Group fell 0.7 percent. The owner of Grolsch, among others, sells less beer as a result of the virus outbreak and dropped his expectations for this year. The company also seems to want to change its dividend policy.

In Hong Kong, the Hang Seng index lost 1.4 percent in the meantime and the main index in Shanghai fell 0.2 percent after disappointing Chinese inflation rates.

In recent days, fears of a new wave of contagion in China have intensified as new cases have surfaced, including in the city of Wuhan. However, no new domestic infections were reported on Tuesday. The Kospi in Seoul remained almost flat and the All Ordinaries in Sydney lost 1.1 percent.

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