Japan Stocks end softer in choppy trade

Japan share market finished choppy session marginally lower on Friday, 07 January 2022, as investors sentiments dampened amid lingering concerns over the economy after Japan's daily COVID-19 cases surpassed the 5,000-mark for the 1st time since Sept. 17, while Tokyo's daily tally reached 922 new infections, the highest figure since mid-September.

Adding to market woes, community transmission of the highly contagious Omicron variant of the virus has been confirmed in some of Japan's major metropolises including Tokyo and Osaka. Japanese Prime Minister Fumio Kishida confirmed Friday that three Japanese prefectures hard-hit by surging cases of COVID-19 would be placed under a quasi-state of emergency.

At closing bell, the 225-issue Nikkei Stock Average fell 9.31 points, or 0.03%, to 28,478.56. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 1.33 points, or 0.07%, to 1,995.68.

Shares related to leisure and transportation lost ground, on concerns individuals and families opt to stay at home during three-day weekend in the country due to resurgence of COVID-19 cases. Tokyo Disney Resort operator Oriental Land fell 1%, while East Japan Railway fell 1.8%.

ECONOMIC NEWS: Japan Household Spending Down 1.2% On Month In November- Japan average household spending was down 1.2% on month in November, the Ministry of Internal Affairs and Communication said on Friday, coming in at 277,029 yen, following the 3.4% gain in October. On a yearly basis, household spending sank 1.3% after dipping 0.6% in the previous month. The average of monthly income per household stood at 481,838 yen, up 1.1% on year.

CURRENCY NEWS: The Japanese yen traded at 115.90 per dollar, compared with 115.88-88 on Thursday.

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