June 18, 2020 / 3:39 AM / 19 days ago

Japanese stocks fall on worries over fresh coronavirus cases

TOKYO, June 18 (Reuters) - Japanese stocks fell on Thursday, as a spike in coronavirus infections across the United States and China raised doubts about a swift recovery in the global economy.

The benchmark Nikkei average fell 1.01% to 22,229.02 by the midday break, with only 22 advancers against 200 decliners.

Six states across the United States reported record increases in new coronavirus cases on Tuesday, while authorities in Beijing ramped up mobility restrictions to contain the virus.

That also resulted in the benchmark S&P index falling 0.3% on Wednesday.

The broader Topix lost 0.77% to 1,587.09 by the recess, with 30 of the 33 sector sub-indexes on the Tokyo exchange posting declines.

The yen also firmed against the dollar, with the dollar trading at 106.83 yen, down 0.17% during the session, hurting the earnings outlook for exporters.

Highly cyclical real estate, mining and airline shares led declines on the main bourse.

The real estate sector tumbled 2.67%, mining stocks dropped 2.41% and airlines fell 1.95%.

Machinery manufacturer NTN Corp slipped 6.30% after the company forecast a net loss to 43.9 billion yen for the year ending in March.

A bright spot were gaming companies Nintendo, which rose 2.7% to hit its highest level in 12 years, and Square Enix Holdings, which advanced 3.76%, as they benefit from strong demand as people stay home during the coronavirus outbreak. (Reporting by Eimi Yamamitsu; Editing by Amy Caren Daniel)

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