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  • Tokyo's benchmark Nikkei index dropped more than 1.3 percent on Thursday, with investors discouraged by a trove of weak economic data and earnings reports that pointed to a severe US economic slowdown. The Nikkei 225 fell 1.33 percent, or 259.89 points, to close at 19,290.20, while the broader Topix index lost 0.82 percent, or 11.83 points, to 1,422.24. "Market sentiment was hit by shocking figures on the US economy," said Daiwa Securities chief technical analyst Eiji Kinouchi. Wall Street stocks dropped as economic reports showed US retail sales plunged in March, while industrial production in the same month suffered its steepest drop since 1946. "A period of panic selling appeared to be ending but uncertainties surrounding the coronavirus have meant investors are still nervous," Kinouchi told AFP. The dollar fetched 107.85 yen in Asian afternoon trade, against 107.48 yen in New York. In Tokyo, blue-chip exporters were lower. Sony slipped 0.99 percent to 6,700 yen as Toyota dropped 2.01 percent to 6,602 yen, with Honda down 3.83 percent at 2,280 yen. But FujiFilm, which is conducting clinical trials of its anti-flu drug Avigan for coronavirus patients, gained 1.15 percent to 5,445 yen. SoftBank Group jumped 2.23 percent to 4,430 yen. si/sah/qan
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  • Tokyo's Nikkei closes down 1.3% on weak US data
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