Japanese stocks stop a series of losses, and “Omicron” limits its gains


Japanese stocks closed higher in volatile trading on Wednesday, after three consecutive sessions of heavy losses, but uncertainty over the impact of the ‘Omicron’ mutator limited the gains.
The Nikkei index ended the day’s trading, up 0.41 percent to 27935.62 points, after rising nearly 1 percent. The broader Topix index compensated for its early losses, rising 0.44 percent to 1,936.74 points.
The Nikkei lost 5.7 percent in the past three sessions, while Topix fell 4.8 percent.
The market is volatile as investors are cautious amid doubts about the Omicron of the Corona virus, after the first infection was confirmed in Japan on Tuesday, a day after borders were closed to all foreign arrivals in one of the world’s most stringent precautions.
Sectors sensitive to economic conditions such as shipping, papermaking and equipment were the best performing.
Robot maker Fanuc and air conditioning maker Daikin Industries gained the most by Nikkei, up 4.45 percent and 4.47 percent, respectively.
Automakers rose after data showed Japanese industrial production rose in October for the first time in four months as the reopening of Asian factories eased supply restrictions. Toyota Motor share rose 2.22 percent, while Honda Motor rose 2.39 percent.
Heavyweight technology companies declined, with SoftBank Group falling 2.19 percent, while the M3 medical services platform fell 2.11 percent. (Reuters)


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