Japan Stocks fall on concerns over new COVID-19 variant

Japan shares declined on Monday, 21 December 2020, with the 225-issue Nikkei Stock Average and the broader Topix index settling lower, as rising U.S.-China tensions and the worsening coronavirus outbreaks and fresh lockdowns in several European countries overshadowed news that US lawmakers finally have a deal on more support for American families and businesses.

At closing bell, the 225-issue Nikkei Stock Average fell 48.97 points, or 0.18%, to 26,714.42. The broader Topix index of all First Section issues on the Tokyo Stock Exchange dropped 4.19 points, or 0.23%, to 1,789.05.

Several European countries closed their borders to the UK as the country entered a tougher lockdown to fight a new strain of coronavirus. Prime Minister Boris Johnson will chair an emergency response meeting on Monday to discuss international travel and the flow of freight in and out of Britain.

In the United States, Republican U.S. Senate Majority Leader Mitch McConnell said an agreement had been reached by congressional leaders on a roughly $900 billion COVID-19 relief bill.

At home, the Japanese government will likely approve a record 106.6 trillion yen budget for the fiscal year starting April including measures to mitigate the impact of the coronavirus on society.

Air transportation, mining, real estate, securities house and electric power and gas issues led notable decliners, while bank and nonferrous metal issues comprised those that gained the most by the close of play

CURRENCY NEWS: The Japanese yen traded at 103.45 per dollar following levels below 103.2 against the greenback seen last week.

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