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Japan stocks continue to fall, China’s corona protest spreads economic concerns-trading companies and materials cheap-Bloomberg

The Tokyo stock market continues to fall. In addition to the fall in US technology stocks last weekend, the spread of protests against China’s “zero corona” policy has increased uncertainty about the future of the global economy. The drop in industries that are particularly susceptible to the Chinese economy, such as trading companies, steel, non-ferrous metals, and mining, was conspicuous. Selling also spread to domestic demand-related sectors such as banks, real estate and construction.

  • The closing price of TOPIX was 13.69 points (0.7%) lower than the previous business day on 2004.31.
  • The Nikkei Stock Average fell ¥120.20 (0.4%) to ¥28,162.83.

Perspectives of market participants

Yoshihiro Okumura Senior Analyst at Chiba Bank Asset Management

  • The spread of coronavirus infections and the spread of protests in China will lead to economic stagnation in the country and Asia.Until the infection subsides, the zero-corona policy, which adversely affects the economy and invites protests, is likely to continue.
  • I got the impression that Black Friday in the United States was a solid result, but there is deep-rooted concern about a slowdown in the US economy heading into next year.The stock market lacks clues and there is a mood that makes it difficult to buy to the top
  • Investors are unlikely to get serious about buying tech stocks as the US Federal Reserve (Fed) has not yet cut interest rates and will continue to tighten policy.

TSE 33 industries

high drop rate Steel, mining, real estate, banking, wholesale
top rate of increase Air transportation, Gomu products, Land transportation

background

  • Towards “Zero Corona” in ChinaProtests grow – express anger on new posts on SNS
    • Chinese stocks and yuanAUD, won also weaker as ‘zero-corona’ protests drop
  • The US stock index on the 25th is high and lowMixed, Nasdaq Composite Index Falls 0.5%
  • US Black Friday, big discount success – amid high pricesCustomer traffic increases

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