Nikkei Closes 0.5% Lower, Weighed by Real-Estate, Bank Stocks

Japanese stocks ends lower with real-estate and bank stocks falling sharply due to continuing concerns about impact of the coronavirus pandemic. Real-estate developer Mitsui Fudosan closes 3.8% lower, Sumitomo Realty & Development 3.0% lower, Mizuho Financial Group down 2.8% and Mitsubishi UFJ Financial Group 2.5% lower. The Nikkei Stock Average closes down 0.5% at 19550.09. Any downward revisions of earnings forecasts will be closely watched. The USD/JPY is at 106.99, compared with 107.22 late Tuesday in New York. The 10-year Japanese government bond yield rises half a basis point at 0.015%.