A Fourth Estate® Service

Tuesday, November 24, 2020

Japan Stocks Fall Due to COVID-19 Concerns

Japanese stocks dropped last Oct. 29 to its lowest level since earlier this month due to COVID-19 concerns in Europe.

Japanese stocks dropped last Oct. 29 to its lowest level since earlier this month due to COVID-19 concerns in Europe.

The Nikkei 225 Index fell to 0.76% to 23,154.42, its lowest level since last Oct. 2 while the Topix index fell to 1.23% as two of Europe’s largest economies — France and Germany — imposed lockdowns to prevent further spread of COVID-19 in their countries.

Some investors were also hesitant to purchase equities due to concerns on the United States Presidential Elections on Nov. 3.

However, earning outlooks have been improving, limiting the declines in stocks. Furthermore, COVID-19 cases in Japan are lower than those in Europe.

The Japanese yen is at 104.47 against the U.S. dollar after recently dropping from 104 per dollar.

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