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Stock exchanges in Japan and Taiwan showed heavy losses on Monday amid concerns about the corona situation in both countries.
In Japan, a state of emergency was introduced in three additional regions last Friday. The slow vaccination program in the country also put price pressure on the stock market. In Taiwan, stricter corona measures were announced in and around the capital Taipei after a significant increase in the number of destinations.
The main index in Taiwan, the Taiex, lost 3 percent. Until now, the island state had been reasonably spared from the corona pandemic and received a lot of international praise for its successful approach to the virus.
The Nikkei in Tokyo ended 0.9 percent lower at 27,824.83 points. The maker of chip equipment Tokyo Electron was one of the worst losers with a loss of 3.6 percent. Honda fell nearly 3 percent. The carmaker recently warned that the industry’s chip shortage and higher material costs would pressure growth in the current fiscal year. Tech investor SoftBank and retail group Fast Retailing, which weigh heavily in the Nikkei, also fell more than 1 percent.
The Chinese stock markets gained ground after a series of macroeconomic data from the country. Chinese industrial production and retail sales rose sharply again on an annual basis in April but rose less sharply than in March. The stock market indicator in Shanghai was 0.7 percent higher, and the Hang Seng index in Hong Kong gained a price of 0.6 percent.
