Japan stocks fall on virus woes, but M&As lift some industrials


Warning: This material has been prepared by a third party company, Reuters, which is independent of Davy. Davy has not reviewed the material and accepts no responsibility for errors or omissions, or for the information or opinions contained therein. It does not constitute investment advice.

    By Stanley White
    TOKYO, April 8 (Reuters) - Japanese stocks fell on Thursday
as concerns about a spike in domestic coronavirus infections and
a potential return of restrictions on economic activity prompted
investors to lock in profit on recent gains.
    The Nikkei 225 Index  .N225  was down 0.38% at 29,618.93, as
of 0203 GMT, while the broader Topix  .TOPX  declined 0.85% to
    The governor of Tokyo is considering adopting emergency
measures in response to a sudden increase in coronavirus
infections and the spread of a new variant of the virus,
according to domestic media.
    The western city of Osaka is also set to declare a medical
emergency after its number of new infections rose to a record
high, which has sparked alarm among public health officials.
    Reduced operating hours for restaurants and shops intended
to slow the infection rate could hamper economic growth. In
addition, more analysts are starting to express concern about
Japan's slow pace of vaccination against the coronavirus.
    "Japanese equities may slow down relative to other markets,"
Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui
Asset Management Co said.
    "Markets are placing a lot of emphasis on the size of fiscal
stimulus and the vaccination rate. More restrictions would be a
negative factor because that would delay a recovery in services
    The underperformers among the Topix 30 were Takeda
Pharmaceutical Co Ltd  4502.T  down 2.85%, followed by
Mitsubishi UFJ Financial Group Inc  8306.T  losing 2.41%.
    In the positive territory, Hitachi Metals Ltd  5486.T  rose
4.36% after the Nikkei newspaper reported that a group led by
Bain Capital has emerged as the preferential bidder for a 53%
stake in the company worth around $7.3 billion.  urn:newsml:reuters.com:*:nL1N2M03B1
    Shares in parent company Hitachi Ltd  6501.T  fell 1.03%.
    Toshiba Corp  6502.T  rose 1.21% a day after receiving a $20
billion offer from CVC Capital Partners to take it private. In
the previous session, Toshiba's shares surged by their daily
limit to the highest in more than four years.  urn:newsml:reuters.com:*:nL4N2LZ3JM

 (Reporting by Stanley White, Editing by Sherry Jacob-Phillips)
 ((stanley.white@tr.com; +81 (0)3 4563 2799;
twitter.com/stanleywhite1 ;))

Warning: This content may be provided by regulated and unregulated entities and is not created, reviewed or endorsed by Davy. It is provided for general information purposes only and does not constitute a recommendation or solicitation to purchase or sell any security or make any other type of investment or investment decision. Importantly, it does not constitute investment advice, as it does not contemplate the personal circumstances of any particular person or group of persons. Neither Davy nor the providers of the Third Party Content will be liable for any investment decision made based on the reliance on or use of such data, or any liability that may arise due to delays or interruptions in the delivery of the Third Party Content for any reason.