Japanese Stock Market Down Due to Corona Worries

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The stock market in Tokyo fell sharply on Wednesday. The mood was depressed by ongoing concerns about the rising number of corona infections in the country and a shortage of healthcare workers and hospital beds in the Japanese capital.

 

In addition, the minutes of the most recent Federal Reserve policy meeting were awaited, to be released later today. The notes may contain clues about how Fed executives feel about rising inflation in the United States, which has sparked stock market turmoil last week.

The main index in Tokyo, the Nikkei 225, closed 1.3 percent lower at 28,044.45 points. On a macroeconomic level, it appeared that Japanese industrial production increased slightly less strongly in March than previously reported. Air conditioner manufacturer Daikin Industries, construction machine maker Komatsu and agricultural machinery manufacturer Kubota were among the biggest losers with losses of around 4 percent.

Car manufacturer Toyota, which reached its highest price ever on Tuesday, fell more than 1 percent. The company announced it would shut down car production in northern Japan next month due to a shortage of chips.

The stock exchange in Shanghai was down 0.5 percent in the meantime, after three wins in a row. The biggest fallers were the energy companies and banks. Companies active in the field of crypto coins were also under pressure. Beijing has banned financial and payment companies from providing services related to digital currency transactions. The Chinese central bank also warned against speculative trading in crypto coins.

The All Ordinaries in Sydney fell 1.9 percent, having the worst trading day in almost three months. The major Australian banks and miners, in particular, were sold. Investors had a day off in Hong Kong and South Korea.

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