Japan Shares Fall on Delta Concerns

Japanese stocks fell on Tuesday, June 29, as losses in cyclical stocks outpaced gains in technology companies, as the outbreak of the most contagious delta strain of Covid-19 raised fears of derailing the global economic recovery.

The Nikkei index fell 0.81% to 288212.61 points, while the broader Topix index lost 0.82% to 1949.48 points.

The Nasdaq and S&P 500 indexes hit all-time highs last night, led by big tech stocks including Facebook and Amazon, while the Dow Jones Industrial Average slumped on falling cyclical stocks.

And while Spain and Portugal imposed new restrictions on Britons who did not receive the vaccine, 80% of Australians face even stricter restrictions due to the spread of the virus across the country. In Tokyo, which will host the Tokyo 2020 Olympic Games, two athletes were diagnosed with COVID-19 upon arrival.