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Markets

Japan's stay-at-home food stocks lose immunity to downturn

Shares fall as restaurant closures cancel out consumption by shut-ins

Frozen fried rice by Nichirei sold at a supermarket. Investors initially snapped up food sector stocks anticipating a demand surge from consumers staying at home. 

TOKYO -- Makers of instant food were the go-to stocks in the Japanese market recently, poised to benefit from the social distancing trend, but now the shares are undergoing a correction.

Nissin Foods Holdings, which makes instant noodles, fell 3% during Thursday's trading in Tokyo. Frozen food maker Nichirei and Toyo Suisan Kaisha -- the company behind Maruchan ramen -- each dipped 4%

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