Japanese Stocks Close Lower on Omicron Fears

Japanese stocks closed lower Thursday, December 2, weighed by concerns about the economic impact of the new mutated Omikorn outbreak of the coronavirus and the Federal Reserve’s shift in monetary policy.

The Nikkei index closed down by 0.65%, recording 27753.37 points, falling by 1.04% earlier in the session.

The broader Topix index fell 0.54% to 1926.37 points, but it is hovering above its lowest level in three months, which was recorded on Wednesday at 1914.93.

Investors are concerned about the economic damage that may result from the outbreak of the Omicron mutant after the United States announced the detection of its first infection.

And to the concerns of investors as well, said US Federal Council Chairman Jerome Powell Tuesday that policymakers will consider early termination of the stimulus measures taken by the Fed.

Japan Airlines shares fell 2.47% after suspending new bookings.

And airline shares received a new blow after they suspended new reservations on international flights until the end of December at the government’s request.

Japan Airlines fell 2.47%, and Mitsubishi Chemicals fell 8.18%, becoming the biggest loser on the Nikkei index.