Japanese shares slide as investors flee risk on pandemic uncertainty [Reuters]
Canon, Inc. American Depositary Shares (CAJ)
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Source: Reuters
Japanese shares slide as investors flee risk on pandemic uncertainty TOKYO, April 24 (Reuters) - Japanese shares edged down on Friday, as their rebound since last month showed signs of fatigue, with investors still in the dark over when and how quickly the economy can recover from the fallout of the coronavirus pandemic. Cyclical shares led the losses, with 29 of 33 industry sub-indexes in the Tokyo Stock Exchange trading in the red, while semiconductor-related shares were hit by dim earnings outlook from U.S. chipmaker Intel. The Nikkei share average fell 0.81% to 19,272.42. It held above its 25-day moving average, now at 18,969 but faces resistance from 50-day average at 19,894. The market is on track for its first weekly loss in three, with the Nikkei down 3.1% by midday. The broader Topix lost 0.62% on Friday morning to 1,417.21. Semi-conductor shares were bruised by a 6% drop in Intel shares in extended trade after the chipmaker forecast second-quarter earnings below Wall Street
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