Japan Market Outlook- 19 July 2021

The Bank of kept its monetary stimulus constant but COVID has a new look. A week before the Olympics, the downgraded its near-term growth projection, citing the number of cases in jumped to 1,308, the highest impact of the coronavirus outbreak. Japanese stocks since January, raising the possibility of a fresh outbreak closed the day lower for the third day in a row. due to the inflow of international athletes and officials.

The Stock dropped 276.01 points, or 1%, to The Bank of Japan has opted to maintain its monetary 28,003.08 points, while the Topix lost 0.4 percent to stimulus and has laid out the groundwork for a new 1,932.19. program to help climate change initiatives, in which the central bank wants to give long-term loans at zero percent Chipmakers and both dropped interest. 2.2 percent and 1.6 percent, respectively, after competitor TSMC announced plans to establish new plants in the US The bank increased its inflation prediction for fiscal 2021 and Japan, as well as expand manufacturing capacity in to 0.6 percent from 0.1 percent originally expected, citing . higher energy prices. Corp and Olympus Corp, both camera manufacturers, declined 2% and 1.4 percent, respectively, The inflation projection for the coming was while Group Corp fell 2.2 percent. raised slightly to 0.9 percent from 0.8 percent, while the outlook for fiscal 2023 was kept at 1%. Among the core 30 Topix names, Sony suffered the biggest loser. , which is not part of the Nikkei, was among the worst performers, down 1.2 percent. SoftBank Group lost 0.7 percent of its value.

Eisai, the Nikkei's largest decline, slumped 13% after some large hospitals refused to utilize an Alzheimer's medicine it developed with Biogen.

Top Gainers Top Losers

Company Last Price Change% Company Last Price Change%

Chugai Pharmaceutical ¥4,111.00 1.08% Co. Ltd. Ltd. ¥2,694.00 -4.09%

Dai Nippon Printing Co. ¥2,473.00 0.49% Ltd. Ltd. ¥538.00 -3.93%

Chubu Electric Power Co. ¥1,328.50 0.34% Inc. Taiyo Yuden Co. Ltd. ¥5,300.00 -3.81%

Toray Industries Inc. ¥697.80 0.17% Group Inc. ¥3,880.00 -3.72%

Daikin Industries Ltd. ¥22,095.00 0.09% Zosen Corp. ¥760.00 -3.55% Japan Market Outlook- 19 July 2021

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