Japan Stocks fall on on virus worries, higher yen

Japan share market finished lower for second straight session on Thursday, 18 June 2020, as investors continued withdrawing profit off the table on tracking weak lead from Wall Street and persistent concerns over the coronavirus crisis. Meanwhile, yen appreciation against greenback also fuelled selloff.

At closing bell, the 225-issue Nikkei Stock Average dropped 100.30 points, or 0.45%, to 22,355.46. The broader Topix index of all First Section issues on the Tokyo Stock Exchange declined 4.00 points, or 0.25%, at 1,583.09.

The Tokyo market succumbed to selling pressure from the outset of Thursday's trading, as risk sentiments discouraged by the U.S. Dow Jones industrial average's drop on amid fears of a second potential wave of novel coronavirus infections in the United States and rises in the numbers of coronavirus patients in Beijing.

Mega-banking group Mitsubishi UFJ and other financial issues succumbed to selling pressure, following drops of their U.S. peers on Wednesday.

Airlines JAL and ANA fell 2.8% and 0.9%, respectively, on the back of concerns that travel demand may plunge again amid fears over another wave of coronavirus infections.

Mitsui O.S.K. rose 3.2% after the shipping firm revised up its ordinary profit outlook for the year to March 2021.

CURRENCY: The dollar fetched 106.84 yen in Asian trade, against 106.97 yen in New York and 107.28 yen in Tokyo late Wednesday.

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