⁍ After dropping as much as 1.1% in early trade, the Nikkei share average was nearly flat at 23,485.80.
⁍ The airline index dropped 3.7% as investors focused on the kind of support airlines would get to survive the COVID-19 pandemic.
⁍ Japan Airline lost 4.27% as the Nikkei business daily reported it was likely to post a record net loss of about 230 billion yen for the fiscal year ending March 2021.
– Japanese stocks ended nearly flat on Tuesday, as strong earnings from camera and copy machine maker Canon helped counter weakness in travel and real estate stocks following a lower finish on Wall Street. The Nikkei share average was nearly flat at 23,485.80 as the broader Topix lost 0.09% to 1,617.53, reports Reuters. The market got support from upbeat earnings reports, with Canon jumping over 8% after raising its annual earnings outlook and legal portal service operator Bengo4.com course to rise 7.5% on upbeat quarterly results. Overall sentiment, however, was weaker as growing worries over a second wave of infections in the United States and pressured Wall Street overnight. Declining the most, the airline index dropped 3.7% as investors focused on the kind of airlines would get to survive the COVID-19 pandemic.
Source: https://www.reuters.com/article/japan-stocks/nikkei-closes-little-changed-as-upbeat-earnings-offset-coronavirus-woes-idUSL1N2HI0E4