Nikkei Posts First Weekly Loss in 6 Weeks Due to Brexit And Virus Fears

Japan’s Nikkei index fell on Friday, posting its first weekly loss in six weeks, as risk appetite waned due to the uncertainty surrounding Brexit, US stimulus and concerns about a spike in COVID-19 cases.

The Nikkei fell 0.39% to close at 26,652.52 points, losing 0.37%for the week. But the broader Topix index closed up 0.33% at 1,782.01 and gained 0.34% for the week.

Japanese Prime Minister Yoshihide Suga said today that the coronavirus situation in the country is critical, but added that he is not considering suspending a government program to support travel.

Sentiment weakened further after British Prime Minister Boris Johnson said there was a “strong possibility” that Britain and the European Union would fail to strike a trade deal.

Shares in SoftBank Group fell 4.7%, two days after making big gains stemming from a report on potential share buybacks and a successful initial public offering (IPO).