Japanese Shares Fall After Tokyo Declared a State of Emergency Ahead of The Olympics

Japanese stocks fell Thursday, July 8, before the country announced the re-imposition of a state of emergency to contain the rise in COVID-19 cases, which raised fears of an economic slowdown.

The benchmark Nikki index fell by 0.88% to its lowest closing level in more than two weeks at 28,118.03 points.

The broader Topix index also fell 0.90% to 1,920.32 points.

Tokyo declared the fourth state of emergency, which will continue during the Japanese capital’s hosting of the Olympics.

Olympic organizers will ban spectators from attending the games, which will run from July 23 to August 8.