TOKYO, Nov 13 (Reuters) - Japan's Nikkei share average ended
lower on Friday, snapping eight consecutive sessions of gains,
as investor sentiment was knocked by concerns around resurging
new cases of the novel coronavirus both at home and abroad.
The benchmark Nikkei share average dropped 0.53% to
25,385.87. The index moved further away from a near three-decade
high hit in the previous sessions, but later pared losses to end
closer to the 29-year high.
For the week, the Nikkei gained 4.36%, largely thanks to the
economic-recovery optimism fuelled by a promising vaccine trial
The broader Topix eased 1.33% to 1,703.33. All but
one of the 33 sector sub-indexes on the Tokyo exchange ended
Wall Street's main indexes closed sharply lower overnight as
daily U.S. COVID-19 infections surged above 100,000 for an
eighth consecutive day, and investors weighed the timeline for
the mass rollout of an effective virus vaccine.
Japan reported a record high of 1,634 new cases on Thursday,
a Japanese broadcaster said.
Airlines dropped nearly 3.6% as investors worried
that another spike in virus cases could lead to renewed movement
ANA Holdings slipped 4.8% and Japan Airlines
Land transport also took a hit, with railroad
companies such as Kintetsu Group Holdings, Sotetsu
Holdings and Central Japan Railway Co down
between 3.6% and 6.8%.
Some stay-at-home stocks were bought instead, with Nintendo
and Sony Corp rising 1.08% and 1.81%,
Rakuten fell more than 2.9% after it posted an
operating loss of 60.52 billion yen for the nine months ended
Nissan Motor climbed 8.75% after cutting its annual
operating loss forecast by 28% on Thursday.
Elsewhere, the Mothers Index of start-up firm shares
closed 1.93% higher.
(Reporting by Eimi Yamamitsu; editing by Uttaresh.V)