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  • Tokyo stocks closed lower on Wednesday, hit by worries over the oil market rout as the coronavirus crisis cripples global energy demand. The benchmark Nikkei 225 index ended down 0.74 percent, or 142.83 points, at 19,137.95, while the broader Topix index fell 0.63 percent, or 8.99 points, to close at 1,406.90. "Japanese shares are seen led by risk-off sentiment on falling oil prices," Okasan Online Securities said in a note. A day after its historic slide into negative territory caused by a supply glut and shrinking storage space, oil prices continue to face pressure from almost non-existent demand as coronavirus causes countries to lock down. Tokyo investors were also disheartened by falls in US high-tech shares, Mizuho Securities said in a note to clients. But Okasan's chief strategist Yoshihiro Ito later said "expectations for a decrease in costs due to cheaper oil prices prompted" buying of shares in utilities and transportation sectors. Some high-tech shares were lower, with parts manufacturer Murata dropping 2.25 percent to 5,610 yen, Hitachi diving 4.97 percent to 2,890 yen and Canon ending down 2.59 percent at 2,145 yen. But chip-testing manufacturer Advantest rallied 3.55 percent to 5,100 yen and Sony edged up 0.31 percent to 6,743 yen. Nintendo gained 2.06 percent to end at 46,980 yen after reports said that San Francisco-based investment fund ValueAct Capital holds more than 2.5 million shares, or some two percent of the gaming company's outstanding shares. The dollar fetched 107.53 yen in late Asian trade, against 107.77 yen in New york late Tuesday. kh/sah/dan
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  • Tokyo stocks close lower on oil, virus fears
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