Nikkei is Dropping on Virus Fears And Stimulus After Long Weekend

Japanese shares fell on Wednesday, September 23, as the stock market tracked losses in global markets after a long weekend and under pressure from fears of a rise in cases of Coronavirus and the delay of an American stimulus program.

Car stocks and other value stocks recorded the largest losses, but the decline was limited by the brilliance of gaming companies and internet-related stocks due to concerns about the Covid-19 pandemic.

The Nikkei index fell 0.06% to 23346.49 points, while the broader TOPIX index fell 0.13% to 1644.25 points. Suzuki Motor fell 3.6%, Honda Motor 2.8% and Nissan Motor 3.2%.

Panasonic shares fell 3.7% after the Tesla CEO said production of the highly anticipated new low-cost battery could take three years.

On the other hand, investors turned to game companies, which profit from the isolation measures. Bandai Namco rose 3.4% and CyberAgent 6%.