The Nikkei falls 2.33% due to doubts about the effectiveness of the OPEC agreement

The Nikkei index of the Tokyo Stock Exchange fell 2.33% on Monday due to doubts about the effectiveness of the OPEC crude production cut agreement in the recovery of prices and the constant increase in cases of coronavirus in Japan.

The Nikkei dropped 455.10 points to 19,043.40 integers, while the Topix, which includes the firms in the first section, those with the largest market capitalization, fell 24.13 points, 1.69%, to 1,405, 91 units.

The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers agreed on Sunday to cut crude production significantly between May and June as demand fell due to the viral pandemic.

Investors in Tokyo did not manage to get rid of doubts about the effectiveness of the measure in the recovery of prices and the Tokyo parquet opened lower, a decline that accentuated the punctual rise in the price of gold, considered a safe asset in times of crisis, to its highest level in 40 years.

The continued increase in COVID-19 cases in Japan, where seven of its 47 prefectures have declared a health alert, also negatively influenced. Investors chose to play it safe and set gains after last week's gains.

Almost all sectors reaped losses, which led maritime transport, brokerage houses, and iron and steel.

The human resources company Recruit fell 8.99%, the biggest drop of the day among the 225 companies listed on the Nikkei, affected by the labor impact that measures to contain the spread of the SARS coronavirus are having worldwide. CoV-2.

The Toyota Tsusho trading house, a subsidiary of the Japanese motoring giant, was third in fall with a fall of 7.09%.

Vehicle manufacturers are also being severely affected in both production and sales by the pandemic. Today Mitsubishi Motors left 5.27% and Mazda Motor 4.99%.

In the first section, 1,740 stocks decreased from 380 that advanced, while 49 remained unchanged.

Trading volume amounted to 1.65 trillion yen (€ 13.97 billion or $ 15.311 billion).


Source link