The Japanese stock exchange started the new trading week at a loss on Monday. Investors were monitoring developments around the new coronavirus in China and were processing some disappointing results from Japanese companies.
Last Friday’s stronger-than-expected US job report kept exchange losses somewhat limited.
The leading Nikkei in Tokyo finished 0.6 percent lower at 23,685.98 points. The Japanese steel group Nippon Steel fell 0.6 percent after a record loss in the past financial year. Nikon surrendered 5.6 percent.
The Japanese camera maker came up with disappointing results due to the declining demand for digital cameras. Automaker Honda increased its profit expectation thanks to a weaker Japanese yen and was rewarded with a price gain of 2.9 percent.
The stock market degree meter in Shanghai was slightly higher in the meantime. The Chinese factories would reopen on Monday after the extended holiday period to curb the spread of the coronavirus, but many factories are expected to remain closed for longer.
The death toll from the coronavirus in China has now risen to 910 people and the number of infections has been increased to more than 40,000. The virus has thus claimed more human lives than the SARS virus in 2002 and 2003.
In Hong Kong, the Hang Seng index lost 0.6 percent. On a macroeconomic level, Chinese producer prices rose by 0.1 percent in January. Consumer prices increased by 5.4 percent last month. The Kospi in Seoul fell 0.6 percent and the Australian All Ordinaries in Sydney went down 0.1 percent.