Japan shares slip to 3-week low on coronavirus concerns [Reuters]
SHIN-ETSU CHEM UNSP/ADR (SHECY)
NASDAQ:AMEX Investor Relations:
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Source: Reuters
Japan shares slip to 3-week low on coronavirus concerns TOKYO, Jan 28 (Reuters) - Japanese shares dropped to three-week lows on Tuesday as a broad range of stocks came under pressure from the spread of the coronavirus that could curb global economic growth. At midday close, the Nikkei share average was down 0.94% at 23,124.51, hitting the lowest level since Jan. 8. The Topix, which includes all listed shares on the Tokyo Stock Exchange’s main board, lost 0.92% to 1,686.83. Losses were widespread, with 80% of the main board shares in the red, an unusually high ratio. Selling spread to companies seen as having strong growth prospects such as Keyence and Shin-etsu Chemical , which fell 2.9% and 2.0%, respectively. “The share prices had been elevated, so a correction was necessary and the coronavirus provided that trigger,” said Tetsuro Ii, president of Commons Asset Management. “But as was the case with SARS and avian flu, it will take some time before this will be settled. As long as th
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