Japan: Nikkei tumbles on coronavirus impact woes

The Japan share market finished session steep lower on Thursday, 30 January 2020, as subpar corporate earnings reports and lingering worries about the spread of the new coronavirus dented market sentiment, with the yen's rise against the U.S. dollar weighing on exporter issues in particular. The majority of industry categories dived into negative territory, with exporters, precision instrument and marine transportation-linked issues comprised notable decliners. At closing bell, the 225-issue Nikkei Stock Average tumbled 401.65 points, or 1.72%, to 22,977.75, while the broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 25.18 points, or 1.48%, at 1,674.77.

Risk sentiments undermined amid mounting evidence that the coronavirus epidemic is disrupting the world's second-largest economy. Investors continue to watch for developments on the ongoing coronavirus outbreak that has already taken more than 170 lives and infected more than 7,711 in China, according to the latest update by China's National Health Commission.

CURRENCY NEWS: The Japanese yen, often viewed as a safe-haven currency in times of economic uncertainty, appreciated against a basket of currencies. The Japanese yen traded at 108.86 per dollar after seeing levels above 109.2 yesterday

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