Tokyo stocks sharply lower in morning on COVID-19 concerns, firm yen

© Kyodo News

Tokyo stocks were sharply lower Monday morning as an ongoing surge of COVID-19 cases in Japan spurred concerns over an economic recovery, while export-related shares were pulled down after the yen strengthened against the U.S. dollar.

The 225-issue Nikkei Stock Average fell 536.03 points, or 1.92 percent, from Friday to 27,441.12. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 33.89 points, or 1.73 percent, at 1,922.50.

Every industry category lost ground, except for marine transportation issues. Decliners were led by service and consumer credit issues.