Japan Stocks Crashed Amid Delta Variant Concern, Asia Up

On Wednesday, June 30, Japanese stocks crashed amid worries about the COVID-19 Delta variant as a Ugandan Olympic delegate tested positive.

The Nikkei 225 plummeted 0.07%, with a net change of $21.08, sending the stocks to the bottom at $28,791.63 per share. Meanwhile, the Nikkei Volatility fell 1.90% or 0.34 points at $17.52.

In addition, Nissan and Toyota both declined 0.63% at $4.98 and 0.31% at $87.83, respectively.

The fluctuation in stocks of both motor companies was caused by a delay in shipments of semiconductors weighing on automobile products.

Also, the Topix index fluctuated 0.30% with a net change of $5.91 which sent the stocks below $1,943.57 per share.

The benchmark sectors that led the losses include Iron & Steel sinking 0.97% or 4.22 points.

Moreover, Electric Power & Gas, Precision Instruments, and Foods all subsided by 0.87% or 3.16 points, 88.54 points, and 14.91 points, respectively.

And finally, the Air Transport sector plunged 0.85% or 1.75 points.

On the other hand, its sector’s best performers are Services with an increase of 0.54% or 15.46 points. This was preceded by Information & Communication soaring 0.45% or 22.16 points.

Rubber Products concluded the first three sectors of gainers climbing 0.31% or 11.33 points.

Furthermore, due to a foreign delegate testing positive for the virus, investors are worried that the upcoming Tokyo Olympics could drive a surge of infection in the country.

Also, investors keep an eye on the upcoming release of the Bank of Japan’s Tankan business sentiment survey in July.

Asia Pacific Stocks Up

Meanwhile, aside from Japan and Hong Kong’s Hang Seng, which decreased 0.39%, all major Asia Pacific stocks went up.

China’s Shanghai Composite climbed 0.50%, with a net increase of $18.02, sending the stocks higher at $3,591.20 per share.

Also, the Shenzhen Component jumped 0.51%, with a net gain of $268.21. This sent the stocks above at $52,812.59 per share.

Moreover, the KOSPI of South Korea rallied 0.30% or 10.00 points at $3,296.68.

Additionally, Australia’s S&P/ASX 200 progressed 0.16% or 11.80 points at $7,313.00.

Lastly, MSCI all country Asia ex-Japan index went down 0.36% or 3.22 points at $889.87.

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