22 days ago • Posted by William Ramstein
Nikkei fell 2% extending losses from Friday.
Auto stocks led declines after a fire at semiconductor supplier plant fanned worries about more chip supply shortfalls hitting vehicle production. Renesas dropped 4.89% after the key automotive semiconductor supplier said production at its fire-damaged plant will take at least a month to restart, with carmakers likely to feel the supply pinch in about a month. Toyota dropped 3.26%, Nissan slipped 3.7% and Honda declined 3.63%.The Japanese government fully lifted its second COVID-19 state of emergency Monday after extending it twice, as the nation remains on high alert for a rebound in new infections.
Source: Trading Economics