BUSINESS Tokyo shares rebound after dipping on virus fears


Tokyo shares rebound after dipping on virus fears


09:45, March 17, 2020

Tokyo shares rebounded into positive territory in late morning trade on Tuesday, after opening sharply down following a global rout on fears over the coronavirus pandemic.


Photo: VCG

The Nikkei 225 index dipped as much as 3.66 percent at one point in early trade, before recovering to 17,180.90, up 1.05 percent or 178.86 points, about 70 minutes after the opening bell.

The broader Topix index was up 1.37 percent or 16.93 points at 1,253.27, after dropping as much as 2.99 percent.

"Japanese shares are now cheap compared with their dividends," Rakuten Securities chief strategist Masayuki Kubota said in a note.

The dollar fetched 106.84 yen in Asian trade, against 105.92 yen in New York late Monday.

In Tokyo, Sony was up 5.20 percent at 5,926 yen, game giant Nintendo was up 5.52 percent at 34,770 yen, and Toyota was up 2.24 percent at 6,074 yen.

On Wall Street, the Dow plummeted 12.9 percent to close at 20,188.52.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue