Japan Shares Closed Lower as COVID-19 Cases Rose in Tokyo

Japanese stocks closed lower on Wednesday, November 18th, as the Nikkei index retreated from its highest close in more than 29 years, which it reached in the previous session, as the high incidence of Covid-19 in Tokyo caused the rally in the recent rally to subside, supporting optimism about The vaccine.

The Nikkei benchmark fell 1.1% to 25,728.14, its biggest single session loss since October 30. On Tuesday, the index, which this month increased by about 12%, recorded its highest closing level since 1991.

The broader Topix index lost 0.81% to 1720.65 points.

Both indicators extended their losses in afternoon trading, as market sentiment was affected after local media reported that Tokyo had witnessed a new record for Coronavirus infections in one day at 493 cases today.

Earlier in the day, the Nikkei daily reported that Tokyo is preparing to raise the COVID-19 alert to the highest of four levels.