Nikkei Index Starts Down 1.28% Amid Growing Concerns Over Omicron Variant (Comprehensive)

[Image source=EPA Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] On the 29th, the Nikkei 225 index at the Tokyo Stock Exchange in Japan started the session with a decline. The drop exceeded 400 yen at one point compared to the previous trading day. This is attributed to investors' continued risk aversion due to the spread of the new COVID-19 variant, 'Omicron'.

The significant turmoil in the US and European stock markets over the past weekend also appears to have had an impact.

On this day, the Nikkei 225 index opened at 28,383.95, down 1.28% (367.67 points) from the previous trading day.

Norihiro Fujito, Chief Investment Strategist at Mitsubishi UFJ Morgan Stanley Securities, analyzed, "There is little information about the Omicron variant, and the market is in an abnormal situation."

The Nikkei 225 index approached the psychological support level of 28,000 at one point but rose due to buying by pension funds and individual investors aiming for long-term investment.

The TOPIX index started the session down 1.43% (28.31 points) at 1,956.67.

This content was produced with the assistance of AI translation services.