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Stock impact report

Nikkei marks first weekly fall in 3; chipmakers drop on dour Intel outlook [Reuters]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Reuters
Nikkei marks first weekly fall in 3; chipmakers drop on dour Intel outlook TOKYO, April 24 (Reuters) - Japanese shares ended lower on Friday, marking their first weekly decline in three, as investors are still in the dark over when and how quickly the economy can recover from the fallout of the coronavirus pandemic. The Nikkei share average closed 0.86% lower at 19,262.00, with a weekly loss of 3.2%. The broader Topix lost 0.33% to 1,421.29. Cyclical shares led the losses, with 27 of 33 industry sub-indexes in the Tokyo Stock Exchange trading in the red, while semiconductor-related shares were affected by dim earnings outlook from U.S. chipmaker Intel. “Although the market had rallied on hopes of a peak-out in the global coronavirus epidemic and re-opening of the economy in the West, buying had been driven by speculation and has run its course,” said Masahiro Ayukai, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. Semi-conductor shares were bruised by a 6% dr Show less Read more
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