TOKYO, Sept 23 (Reuters) - Japanese shares eased on Wednesday as the market caught up with the losses in global markets following the country's long weekend, weighed down by fears about rising coronavirus infections and a delay in U.S. fiscal stimulus.
Automakers and other value shares led losses, while gaming companies and internet-related stocks outperformed as worries about the COVID-19 pandemic resurface.
"There are worries that coronavirus infections could rise as the temperature cools down. In addition, investors worry about a delay in U.S. stimulus, given that it was the massive economic package that has supported the market," said Fumio Matsumoto, chief strategist at Okasan Securities.
The UK government tightened social restrictions to curb rises in COVID-19 cases, while many U.S. stimulus programmes have lapsed with the Congress unable to clinch another deal. anxiety that the economy could suffer from a fresh wave of infections without government support poured cold water on cyclical value shares, such as automakers.
Panasonic 6752.T fell 3.4% after Tesla Inc TSLA.O CEO Elon Musk said its highly anticipated new low-cost battery could take three years. the other hand, investors flocked to stay-at-home winners such as gaming companies. Bandai Namco 7832.T rose 3.3% and Cyber Agent 4751.T gained 4.8%.
Internet infrastructure companies also did well, with NTT Data 9613.T rising 3.4%.
Home furnishing store operator Shimachu 8184.T was untraded with bids outnumbering offers at the day's limit, up 17.4%, after local media reported rival DCM Holdings 3050.T was considering a tender offer for the firm.
DCM also rose 13.6% on hopes of consolidation.
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